Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded down 5% on Wednesday . The stock traded as low as $4.74 and last traded at $4.75. 870,652 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 2,117,073 shares. The stock had previously closed at $5.00.

Analyst Ratings Changes

OCUL has been the topic of several analyst reports. Piper Sandler upped their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. Bank of America initiated coverage on shares of Ocular Therapeutix in a research note on Friday, February 9th. They issued a “buy” rating and a $15.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. Finally, StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Price Performance

The firm’s 50 day moving average price is $8.72 and its two-hundred day moving average price is $5.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The stock has a market cap of $717.83 million, a PE ratio of -3.71 and a beta of 1.30.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $14.80 million for the quarter, compared to analysts’ expectations of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. On average, research analysts expect that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.

Insider Activity

In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the transaction, the insider now directly owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Summer Road Llc bought 930,851 shares of the business’s stock in a transaction on Monday, February 26th. The shares were bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rabia Gurses Ozden sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the sale, the insider now directly owns 92,767 shares in the company, valued at approximately $459,196.65. The disclosure for this sale can be found here. Insiders have sold a total of 39,366 shares of company stock valued at $194,862 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont raised its holdings in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,000 shares during the period. Barclays PLC grew its position in shares of Ocular Therapeutix by 22.9% during the third quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 4,840 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 5,730 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Ocular Therapeutix by 350.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 7,152 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Ocular Therapeutix by 60.5% during the fourth quarter. SG Americas Securities LLC now owns 19,646 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 7,404 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.