90,000 Shares in Ocular Therapeutix, Inc. $OCUL Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the first quarter, HoldingsChannel.com reports. The firm bought 90,000 shares of the biopharmaceutical company’s stock, valued at approximately $762,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cantor Fitzgerald L. P. bought a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $2,360,000. Avoro Capital Advisors LLC lifted its position in shares of 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 worth $119,822,000 after purchasing an additional 2,850,000 shares in the last quarter. Rhenman & Partners Asset Management AB bought a new stake in shares of Ocular Therapeutix in the third quarter worth $2,361,000. Assenagon Asset Management S.A. boosted its holdings in Ocular Therapeutix by 1,261.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 620,814 shares of the biopharmaceutical company’s stock worth $7,537,000 after purchasing an additional 575,214 shares during the last quarter. Finally, Empire Life Investments Inc. grew its position in Ocular Therapeutix by 115.0% in the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock valued at $6,557,000 after purchasing an additional 288,853 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $9.64 on Friday. Ocular Therapeutix, Inc. has a 52 week low of $6.23 and a 52 week high of $16.44. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -6.60 and a beta of 0.88. The company has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $9.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the transaction, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Insiders sold a total of 28,999 shares of company stock worth $237,792 in the last three months. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OCUL shares. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Robert W. Baird increased their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Finally, Chardan Capital boosted their price objective on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix 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.