Polaris Venture Management Co. V L.L.C. Sells 231,296 Shares of Ocular Therapeutix Inc. (OCUL)
Polaris Venture Management Co. V L.L.C. decreased its stake in Ocular Therapeutix Inc. (NASDAQ:OCUL) by 18.8% during the second quarter, Holdings Channel reports. The firm owned 998,713 shares of the biopharmaceutical company’s stock after selling 231,296 shares during the period. Ocular Therapeutix makes up 5.3% of Polaris Venture Management Co. V L.L.C.’s investment portfolio, making the stock its 8th largest position. Polaris Venture Management Co. V L.L.C.’s holdings in Ocular Therapeutix were worth $4,944,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Ocular Therapeutix by 25.1% in the second quarter. Alps Advisors Inc. now owns 34,792 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 6,976 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in shares of Ocular Therapeutix during the second quarter valued at approximately $1,750,000. Acadian Asset Management LLC bought a new stake in shares of Ocular Therapeutix during the second quarter valued at approximately $422,000. Geode Capital Management LLC increased its stake in shares of Ocular Therapeutix by 1.5% in the first quarter. Geode Capital Management LLC now owns 70,396 shares of the biopharmaceutical company’s stock valued at $680,000 after buying an additional 1,042 shares during the period. Finally, State Street Corp increased its stake in shares of Ocular Therapeutix by 13.8% in the first quarter. State Street Corp now owns 205,586 shares of the biopharmaceutical company’s stock valued at $1,989,000 after buying an additional 24,939 shares during the period. Hedge funds and other institutional investors own 78.45% of the company’s stock.
Ocular Therapeutix Inc. (NASDAQ:OCUL) traded down 5.96% during mid-day trading on Friday, hitting $6.79. 2,494,235 shares of the stock were exchanged. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $7.96. Ocular Therapeutix Inc. has a 1-year low of $4.04 and a 1-year high of $17.34. The company’s market capitalization is $168.53 million.
Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. Ocular Therapeutix had a negative return on equity of 52.44% and a negative net margin of 2,519.61%. The business had revenue of $0.44 million for the quarter, compared to analysts’ expectations of $0.55 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Ocular Therapeutix Inc. will post ($1.87) earnings per share for the current fiscal year.
Several brokerages have commented on OCUL. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Friday, August 12th. JMP Securities began coverage on shares of Ocular Therapeutix in a report on Thursday, August 11th. They set an “outperform” rating and a $5.84 target price on the stock. Finally, BTIG Research restated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, July 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $19.07.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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