Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $24,747.60 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,018 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $24,747.60. Following the transaction, the insider owned 320,350 shares of the company’s stock, valued at $2,626,870. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock opened at $9.01 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The stock has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $10.22. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The firm has a market capitalization of $1.97 billion, a P/E ratio of -6.17 and a beta of 0.93.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OCUL. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Monday, April 13th. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. 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. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently made changes to their positions in OCUL. Millennium Management LLC increased its stake in shares of Ocular Therapeutix by 3,136.1% in the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after buying an additional 3,736,560 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Ocular Therapeutix by 2,003.2% in the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock valued at $40,032,000 after acquiring an additional 3,261,619 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after acquiring an additional 2,850,000 shares during the last quarter. Commodore Capital LP bought a new position in Ocular Therapeutix in the first quarter valued at about $21,810,000. Finally, Vanguard Group Inc. boosted its holdings in Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after acquiring an additional 2,411,953 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

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.