Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 2,967 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Peter Kaiser sold 2,967 shares of Ocular Therapeutix stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $24,329.40. Following the completion of the sale, the insider owned 266,141 shares of the company’s stock, valued at $2,182,356.20. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading Up 7.1%

OCUL traded up $0.61 during midday trading on Thursday, hitting $9.15. The company’s stock had a trading volume of 3,382,545 shares, compared to its average volume of 5,029,148. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.00 billion, a P/E ratio of -6.27 and a beta of 0.93. The firm has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $10.24. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently bought and sold shares of OCUL. Millennium Management LLC boosted its holdings in Ocular Therapeutix by 3,136.1% in the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after acquiring an additional 3,736,560 shares during the period. Alliancebernstein L.P. boosted its holdings in Ocular Therapeutix by 2,003.2% in the 3rd quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares during the period. Avoro Capital Advisors LLC boosted its holdings 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 worth $119,822,000 after acquiring an additional 2,850,000 shares during the period. Commodore Capital LP purchased a new position in Ocular Therapeutix in the 1st quarter worth approximately $21,810,000. Finally, Vanguard Group Inc. boosted its holdings in Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after acquiring an additional 2,411,953 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on OCUL shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.