Ocular Therapeutix, Inc. (NASDAQ:OCUL) Short Interest Up 20.0% in February

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 17,648,381 shares, a growth of 20.0% from the February 12th total of 14,706,215 shares. Currently, 8.3% of the shares of the stock are short sold. Based on an average daily volume of 12,294,841 shares, the short-interest ratio is presently 1.4 days. Based on an average daily volume of 12,294,841 shares, the short-interest ratio is presently 1.4 days. Currently, 8.3% of the shares of the stock are short sold.

Insider Transactions at Ocular Therapeutix

In related news, Director Richard L. Md Lindstrom bought 60,229 shares of the company’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $7.66 per share, for a total transaction of $461,354.14. Following the acquisition, the director directly owned 246,933 shares in the company, valued at $1,891,506.78. This represents a 32.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey S. Heier sold 3,057 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $8.28, for a total value of $25,311.96. Following the completion of the sale, the insider directly owned 323,368 shares of the company’s stock, valued at $2,677,487.04. This trade represents a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 197,221 shares of company stock valued at $1,754,805. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position in Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $42,000. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $61,000. Finally, KBC Group NV purchased a new stake in Ocular Therapeutix during the 4th quarter worth approximately $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Needham & Company LLC reduced their target price on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Finally, 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. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.78.

Ocular Therapeutix Trading Up 0.6%

Shares of OCUL stock traded up $0.05 during trading hours on Tuesday, hitting $8.68. The company had a trading volume of 2,608,715 shares, compared to its average volume of 6,845,236. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The stock has a market capitalization of $1.89 billion, a PE ratio of -6.03 and a beta of 0.91. The company’s fifty day moving average is $9.77 and its 200 day moving average is $11.37. Ocular Therapeutix has a fifty-two week low of $5.80 and a fifty-two week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. Research analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

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.