Ocular Therapeutix, Inc. (NASDAQ:OCUL) Insider Sanjay Nayak Sells 1,832 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,832 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $9.02, for a total transaction of $16,524.64. Following the sale, the insider now directly owns 176,194 shares of the company’s stock, valued at approximately $1,589,269.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $9.04 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.70 and a beta of 1.30. The company’s 50-day moving average is $7.71 and its two-hundred day moving average is $7.43. Ocular Therapeutix, Inc. has a 1-year low of $2.00 and a 1-year high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $16.40 million during the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. Analysts forecast that Ocular Therapeutix, Inc. will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently bought and sold shares of the company. Great Point Partners LLC acquired a new position in Ocular Therapeutix in the 4th quarter valued at about $3,122,000. Artia Global Partners LP acquired a new position in Ocular Therapeutix in the 4th quarter valued at about $1,962,000. Deltec Asset Management LLC boosted its holdings in Ocular Therapeutix by 9.6% in the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after purchasing an additional 226,181 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ocular Therapeutix by 1,142.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after acquiring an additional 609,328 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after acquiring an additional 2,117,029 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OCUL shares. TD Cowen cut shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. JMP Securities cut their target price on shares of Ocular Therapeutix from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Robert W. Baird lowered their price target on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler restated an “overweight” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

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.