Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 5%

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price was down 5% during mid-day trading on Wednesday . The stock traded as low as $4.74 and last traded at $4.75. Approximately 870,652 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 2,117,073 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on OCUL shares. Bank of America started coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price for the company. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. Piper Sandler upped their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $24.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Stock Performance

The company has a market cap of $734.05 million, a PE ratio of -3.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66. The stock’s 50-day simple moving average is $8.63 and its 200 day simple moving average is $5.36.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the transaction, the chief executive officer now owns 427,943 shares in the company, valued at approximately $2,118,317.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Antony C. Mattessich sold 18,338 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the transaction, the chief executive officer now directly owns 427,943 shares of the company’s stock, valued at approximately $2,118,317.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the purchase, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The disclosure for this purchase can be found here. In the last quarter, insiders sold 39,366 shares of company stock worth $194,862. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont increased its holdings in Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in Ocular Therapeutix during the 3rd quarter valued at about $37,000. SG Americas Securities LLC purchased a new position in Ocular Therapeutix during the 3rd quarter valued at about $38,000. China Universal Asset Management Co. Ltd. increased its holdings in Ocular Therapeutix by 350.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 7,152 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Ocular Therapeutix by 142.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 5,730 shares in the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.