Trexquant Investment LP cut its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 47.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,286 shares of the biopharmaceutical company’s stock after selling 14,977 shares during the quarter. Trexquant Investment LP’s holdings in Ocular Therapeutix were worth $231,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Ocular Therapeutix during the first quarter worth $262,000. Sei Investments Co. lifted its stake in Ocular Therapeutix by 34.1% during the first quarter. Sei Investments Co. now owns 75,250 shares of the biopharmaceutical company’s stock worth $1,476,000 after purchasing an additional 19,130 shares during the last quarter. Castleark Management LLC lifted its stake in Ocular Therapeutix by 48.7% during the first quarter. Castleark Management LLC now owns 485,837 shares of the biopharmaceutical company’s stock worth $7,973,000 after purchasing an additional 159,195 shares during the last quarter. Brown Advisory Inc. bought a new position in Ocular Therapeutix during the first quarter worth $1,477,000. Finally, Swiss National Bank lifted its stake in Ocular Therapeutix by 1.8% during the second quarter. Swiss National Bank now owns 141,100 shares of the biopharmaceutical company’s stock worth $2,001,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 63.02% of the company’s stock.
OCUL has been the topic of several research analyst reports. Zacks Investment Research cut Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Piper Sandler reiterated a “buy” rating and issued a $28.00 target price on shares of Ocular Therapeutix in a research note on Friday, July 23rd. HC Wainwright raised their target price on Ocular Therapeutix from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JMP Securities reiterated a “buy” rating and issued a $33.00 target price on shares of Ocular Therapeutix in a research note on Friday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.83.
OCUL stock opened at $11.54 on Thursday. Ocular Therapeutix, Inc. has a 1 year low of $9.11 and a 1 year high of $24.30. The stock’s fifty day moving average is $10.57 and its two-hundred day moving average is $13.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 10.00 and a current ratio of 10.05. The stock has a market capitalization of $883.77 million, a price-to-earnings ratio of -6.04 and a beta of 2.14.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, August 9th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. Ocular Therapeutix had a negative net margin of 318.77% and a negative return on equity of 51.58%. The business had revenue of $11.72 million for the quarter, compared to analysts’ expectations of $11.70 million. As a group, analysts predict that Ocular Therapeutix, Inc. will post -0.59 EPS for the current fiscal year.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
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