Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $173,479.20 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Pravin Dugel sold 21,156 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Down 1.5%

OCUL stock opened at $9.01 on Friday. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -6.17 and a beta of 0.93. The company has a 50 day moving average of $8.80 and a two-hundred day moving average of $10.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in Ocular Therapeutix by 1,274.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,746 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 12,746 shares during the period. California State Teachers Retirement System boosted its holdings in Ocular Therapeutix by 41.8% in the 1st quarter. California State Teachers Retirement System now owns 213,706 shares of the biopharmaceutical company’s stock valued at $1,810,000 after purchasing an additional 63,005 shares during the period. Readystate Asset Management LP bought a new stake in Ocular Therapeutix in the 1st quarter valued at $7,484,000. Royal Bank of Canada boosted its holdings in Ocular Therapeutix by 175.1% in the 1st quarter. Royal Bank of Canada now owns 26,554 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 16,902 shares during the period. Finally, Rock Springs Capital Management LP boosted its holdings in Ocular Therapeutix by 11.0% in the 1st quarter. Rock Springs Capital Management LP now owns 383,716 shares of the biopharmaceutical company’s stock valued at $3,250,000 after purchasing an additional 37,896 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Jefferies Financial Group restated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Chardan Capital restated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Finally, Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.78.

Ocular Therapeutix Company 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.