Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5%

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

Analysts Set New Price Targets

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

Ocular Therapeutix Stock Performance

The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82. The company has a market cap of $717.83 million, a P/E ratio of -3.71 and a beta of 1.30. The company has a 50 day moving average price of $8.72 and a 200-day moving average price of $5.38.

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

Insider Buying and Selling at Ocular Therapeutix

In other news, CFO Donald Notman sold 6,433 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the transaction, the chief financial officer now directly owns 139,932 shares in the company, valued at $692,663.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $31,843.35. Following the sale, the chief financial officer now directly owns 139,932 shares of the company’s stock, valued at $692,663.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summer Road Llc acquired 930,851 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the purchase, the insider now directly owns 8,591,401 shares of the company’s stock, valued at $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

A number of hedge funds have recently modified their holdings of OCUL. Trust Co. of Vermont lifted its holdings in 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 buying an additional 1,000 shares during the period. Barclays PLC raised 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 acquiring an additional 4,840 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Ocular Therapeutix by 142.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 5,730 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Ocular Therapeutix by 350.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring 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 4th quarter. SG Americas Securities LLC now owns 19,646 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 7,404 shares during the period. Institutional investors and hedge funds 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.