Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 4.4% – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price dropped 4.4% during mid-day trading on Thursday . The stock traded as low as $8.21 and last traded at $8.39. Approximately 277,918 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,841,918 shares. The stock had previously closed at $8.78.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OCUL shares. Scotiabank assumed coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, HC Wainwright raised their price objective on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Stock Down 3.0 %

The firm’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $8.09. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.61 and a beta of 1.26. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC grew its position in shares of Ocular Therapeutix by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock valued at $3,860,000 after acquiring an additional 1,168 shares during the period. Amalgamated Bank grew its position in shares of Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,481 shares during the period. HighVista Strategies LLC grew its position in shares of Ocular Therapeutix by 5.1% in the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in shares of Ocular Therapeutix by 39.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 3,257 shares during the period. Institutional investors own 59.21% of the company’s stock.

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.