Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 9.2%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded down 9.2% during mid-day trading on Thursday . The stock traded as low as $6.88 and last traded at $6.88. 425,027 shares changed hands during trading, a decline of 78% from the average session volume of 1,943,824 shares. The stock had previously closed at $7.58.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America started coverage on Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $24.00 price target on shares of Ocular Therapeutix in a research report on Tuesday. StockNews.com cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Piper Sandler increased their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Ocular Therapeutix Trading Down 15.2 %

The firm has a 50-day moving average of $8.74 and a 200 day moving average of $5.29. 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 stock has a market capitalization of $955.69 million, a price-to-earnings ratio of -5.50 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) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The firm had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. As a group, equities analysts predict that Ocular Therapeutix, Inc. will post -0.68 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 92,767 shares of the company’s stock, valued at approximately $459,196.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Rabia Gurses Ozden sold 7,764 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 92,767 shares of the company’s stock, valued at approximately $459,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Summer Road Llc acquired 930,851 shares of Ocular Therapeutix stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 39,366 shares of company stock valued at $194,862. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently modified their holdings of the business. Summer Road LLC lifted its holdings in shares of Ocular Therapeutix by 0.4% in the fourth quarter. Summer Road LLC now owns 6,122,089 shares of the biopharmaceutical company’s stock valued at $17,203,000 after purchasing an additional 27,328 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Ocular Therapeutix by 7.0% during the second quarter. BlackRock Inc. now owns 5,262,920 shares of the biopharmaceutical company’s stock worth $27,157,000 after acquiring an additional 344,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after acquiring an additional 1,057,123 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Ocular Therapeutix during the fourth quarter worth $20,071,000. Finally, Deltec Asset Management LLC raised its holdings in shares of Ocular Therapeutix by 18.5% during the fourth quarter. Deltec Asset Management LLC now owns 2,443,607 shares of the biopharmaceutical company’s stock worth $10,898,000 after acquiring an additional 381,810 shares in the last quarter. Hedge funds and other 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.