Ocular Therapeutix, Inc. (NASDAQ:OCUL) Short Interest Up 34.2% in March

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 23,683,101 shares, an increase of 34.2% from the February 26th total of 17,648,381 shares. Based on an average trading volume of 6,660,775 shares, the short-interest ratio is currently 3.6 days. Approximately 11.1% of the shares of the stock are short sold.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL traded down $0.52 during trading on Friday, reaching $7.55. The stock had a trading volume of 2,822,742 shares, compared to its average volume of 5,210,723. Ocular Therapeutix has a 52 week low of $5.80 and a 52 week high of $16.44. The business’s 50-day moving average price is $9.24 and its 200 day moving average price is $11.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The stock has a market capitalization of $1.64 billion, a PE ratio of -5.24 and a beta of 0.91.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The business had revenue of $13.25 million for the quarter, compared to analyst estimates of $16.13 million. During the same period in the prior year, the company earned ($0.29) EPS. Ocular Therapeutix’s revenue for the quarter was down 22.4% on a year-over-year basis. As a group, equities analysts predict that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Pravin Dugel sold 20,056 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $8.28, for a total value of $166,063.68. Following the sale, the insider owned 3,013,022 shares of the company’s stock, valued at $24,947,822.16. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nadia Waheed sold 3,510 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.74, for a total transaction of $27,167.40. Following the completion of the transaction, the insider directly owned 314,907 shares of the company’s stock, valued at $2,437,380.18. This trade represents a 1.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 197,221 shares of company stock worth $1,754,805 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Ocular Therapeutix

Several large investors have recently made changes to their positions in OCUL. Rockefeller Capital Management L.P. acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at $31,000. Avoro Capital Advisors LLC lifted its position in Ocular Therapeutix by 5.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after buying an additional 527,777 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Ocular Therapeutix by 712.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,018 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 8,785 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in Ocular Therapeutix during the 4th quarter worth about $208,000. Finally, Virtu Financial LLC increased its position in Ocular Therapeutix by 470.2% in the 4th quarter. Virtu Financial LLC now owns 65,627 shares of the biopharmaceutical company’s stock valued at $797,000 after acquiring an additional 54,117 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on OCUL. William Blair restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. HC Wainwright upped their price target on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Chardan Capital restated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.