Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $20,449.66 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,897 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.78, for a total transaction of $20,449.66. Following the sale, the insider directly owned 326,898 shares of the company’s stock, valued at $3,523,960.44. The trade was a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Price Performance

Shares of OCUL stock traded down $0.11 during trading hours on Wednesday, reaching $10.77. The company had a trading volume of 1,364,367 shares, compared to its average volume of 4,141,407. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.58 and a beta of 0.93. The stock has a fifty day moving average of $9.61 and a 200-day moving average of $9.13.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. Ocular Therapeutix’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Robert W. Baird lifted their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCUL. Hilton Head Capital Partners LLC lifted its holdings in shares of Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,053 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ocular Therapeutix by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.