Summer Road LLC Sells 1,471,102 Shares of Ocular Therapeutix, Inc. $OCUL

Summer Road LLC decreased its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,108,555 shares of the biopharmaceutical company’s stock after selling 1,471,102 shares during the quarter. Ocular Therapeutix accounts for approximately 97.9% of Summer Road LLC’s holdings, making the stock its largest holding. Summer Road LLC owned 5.10% of Ocular Therapeutix worth $134,858,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in Ocular Therapeutix during the fourth quarter worth about $42,000. State of Wyoming acquired a new stake in Ocular Therapeutix during the fourth quarter worth approximately $78,000. KBC Group NV acquired a new stake in shares of Ocular Therapeutix in the fourth quarter valued at approximately $78,000. Quarry LP acquired a new stake in shares of Ocular Therapeutix in the third quarter valued at approximately $80,000. Finally, Trust Co. of Vermont raised its position in shares of Ocular Therapeutix by 24.3% in the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 1,750 shares in the last quarter. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $8.25 on Monday. The company has a 50 day moving average of $8.83 and a 200-day moving average of $10.12. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The firm has a market cap of $1.81 billion, a P/E ratio of -5.65 and a beta of 0.89.

Analysts Set New Price Targets

Several research analysts have commented on OCUL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research note on Monday, April 13th. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.78.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Over the last ninety days, insiders have sold 28,999 shares of company stock valued at $237,792. 2.30% of the stock is owned by company insiders.

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.