Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 3,018 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,018 shares of the business’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 transaction of $24,747.60. Following the sale, the insider directly owned 320,350 shares in the company, valued at approximately $2,626,870. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 Performance

NASDAQ:OCUL traded up $0.61 during trading hours on Thursday, hitting $9.15. 3,382,545 shares of the company were exchanged, compared to its average volume of 5,029,148. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -6.27 and a beta of 0.93. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The company’s 50 day moving average price is $8.78 and its 200-day moving average price is $10.24.

Institutional Investors Weigh In On Ocular Therapeutix

A number of large investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in shares of Ocular Therapeutix by 1,274.6% during the first quarter. NewEdge Advisors LLC now owns 13,746 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 12,746 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Ocular Therapeutix by 41.8% during the first quarter. California State Teachers Retirement System now owns 213,706 shares of the biopharmaceutical company’s stock worth $1,810,000 after buying an additional 63,005 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Ocular Therapeutix during the first quarter worth $7,484,000. Royal Bank of Canada grew its holdings in shares of Ocular Therapeutix by 175.1% during the first quarter. Royal Bank of Canada now owns 26,554 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 16,902 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in shares of Ocular Therapeutix by 11.0% during the first quarter. Rock Springs Capital Management LP now owns 383,716 shares of the biopharmaceutical company’s stock worth $3,250,000 after buying an additional 37,896 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

OCUL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

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.