Sanjay Nayak Sells 1,858 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,858 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $15,235.60. Following the sale, the insider owned 328,795 shares in the company, valued at approximately $2,696,119. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Down 1.5%

Shares of OCUL opened at $9.01 on Friday. The business’s 50-day moving average price is $8.80 and its 200-day moving average price is $10.22. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44. The stock has a market cap of $1.97 billion, a PE ratio of -6.17 and a beta of 0.93. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

OCUL has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Monday, April 13th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Chardan Capital reiterated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Twelve 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, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average price target of $23.78.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Ocular Therapeutix in the fourth quarter worth approximately $31,000. Hilton Head Capital Partners LLC boosted its stake in Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,053 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix in the fourth quarter worth approximately $61,000. Finally, KBC Group NV purchased a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $78,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

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.