2,575,000 Shares in Ocular Therapeutix, Inc. $OCUL Bought by Commodore Capital LP

Commodore Capital LP bought a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the first quarter, HoldingsChannel reports. The fund bought 2,575,000 shares of the biopharmaceutical company’s stock, valued at approximately $21,810,000. Ocular Therapeutix accounts for approximately 1.3% of Commodore Capital LP’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Summer Road LLC lifted its position in Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after buying an additional 771,270 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after acquiring an additional 2,411,953 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of Ocular Therapeutix by 5.1% in the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after acquiring an additional 527,777 shares during the last quarter. TCG Crossover Management LLC raised its holdings in Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after acquiring an additional 798,084 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Ocular Therapeutix by 15.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock valued at $56,148,000 after purchasing an additional 620,700 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OCUL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Robert W. Baird raised their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. HC Wainwright restated a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Finally, Chardan Capital upped their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $8.51 on Monday. 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 business’s 50 day moving average price is $9.12 and its two-hundred day moving average price is $9.28. The company has a market cap of $1.86 billion, a PE ratio of -5.83 and a beta of 0.88. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix 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 transaction, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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. In the last ninety days, insiders sold 28,999 shares of company stock worth $237,792. Insiders own 3.10% of the company’s stock.

Ocular Therapeutix 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.