Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 2.5% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.35. 117,335 shares traded hands during trading, a decline of 93% from the average session volume of 1,756,840 shares. The stock had previously closed at $8.56.

Analysts Set New Price Targets

Several research firms have weighed in on OCUL. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. Scotiabank initiated coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued 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 an average target price of $16.71.

Ocular Therapeutix Stock Performance

The company has a market cap of $1.32 billion, a P/E ratio of -6.36 and a beta of 1.20. The stock has a 50 day moving average price of $9.95 and a two-hundred day moving average price of $8.65. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the sale, the insider now owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC bought a new position in shares of Ocular Therapeutix in the second quarter worth $34,000. Amalgamated Bank grew its holdings in shares of Ocular Therapeutix by 37.9% during the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 1,015 shares in the last quarter. Algert Global LLC bought a new position in shares of Ocular Therapeutix in the 2nd quarter valued at $69,000. Finally, Capital Performance Advisors LLP bought a new stake in Ocular Therapeutix during the 3rd quarter worth $70,000. 59.21% of the stock is owned by institutional investors and hedge funds.

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.