Pictet Asset Management Holding SA Buys 335,324 Shares of Ocular Therapeutix, Inc. $OCUL

Pictet Asset Management Holding SA boosted its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 1,229.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,596 shares of the biopharmaceutical company’s stock after buying an additional 335,324 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ocular Therapeutix were worth $3,071,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC raised its stake in shares of Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,053 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 valued at $27,000 after purchasing an additional 1,242 shares during the period. The Manufacturers Life Insurance Company grew its stake in Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares in the last quarter. Trust Co. of Vermont increased its holdings in Ocular Therapeutix by 24.3% during the 4th quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 1,750 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OCUL has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Needham & Company LLC restated 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 upped their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Finally, Chardan Capital boosted their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the sale, the insider owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 three months, insiders sold 28,999 shares of company stock worth $237,792. Corporate insiders own 3.10% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $9.64 on Friday. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The stock’s fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $9.65. The stock has a market capitalization of $2.11 billion, a PE ratio of -6.60 and a beta of 0.88. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.

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.