Peter Kaiser Sells 2,967 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Peter Kaiser sold 2,967 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $24,329.40. Following the transaction, the insider owned 266,141 shares of the company’s stock, valued at $2,182,356.20. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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

Ocular Therapeutix stock opened at $9.01 on Friday. The firm has a market capitalization of $1.97 billion, a P/E ratio of -6.17 and a beta of 0.93. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44. The business has a 50-day moving average of $8.80 and a 200-day moving average of $10.22. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Chardan Capital restated a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research report on Monday, April 13th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its position in shares of Ocular Therapeutix by 574.4% in the 3rd quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company’s stock valued at $7,871,000 after purchasing an additional 573,504 shares during the period. Vanguard Group Inc. lifted its stake in Ocular Therapeutix by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after acquiring an additional 771,065 shares in the last quarter. Cantor Fitzgerald L. P. bought a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $2,360,000. Avoro Capital Advisors LLC lifted its stake in Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after acquiring an additional 2,850,000 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB bought a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $2,361,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.