Ocular Therapeutix (NASDAQ:OCUL) Trading Up 3.9% – Here’s Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $9.48 and last traded at $9.44. 114,384 shares traded hands during trading, a decline of 94% from the average session volume of 1,830,470 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

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

Ocular Therapeutix Trading Up 3.2 %

The business has a 50 day simple moving average of $9.92 and a two-hundred day simple moving average of $8.19. The company has a market cap of $1.58 billion, a PE ratio of -7.39 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.

Insider Activity

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of institutional investors have recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new position in Ocular Therapeutix during the second quarter valued at approximately $34,000. Amalgamated Bank lifted its holdings in shares of Ocular Therapeutix by 37.9% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ocular Therapeutix by 22.0% during 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 in the last quarter. Algert Global LLC purchased a new stake in Ocular Therapeutix during the 2nd quarter worth $69,000. Finally, Capital Performance Advisors LLP acquired a new stake in Ocular Therapeutix in the 3rd quarter valued at $70,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company Profile

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.