Ocular Therapeutix (NASDAQ:OCUL) Insider Jeffrey Heier Sells 10,502 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 10,502 shares of Ocular Therapeutix stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total transaction of $115,942.08. Following the transaction, the insider directly owned 249,409 shares of the company’s stock, valued at approximately $2,753,475.36. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock opened at $10.97 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. The firm has a market capitalization of $1.91 billion, a P/E ratio of -8.57 and a beta of 1.45. Ocular Therapeutix, Inc. has a 1-year low of $5.78 and a 1-year high of $13.85. The company’s 50-day moving average is $12.28 and its 200 day moving average is $9.77.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The business had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $13.12 million. During the same quarter last year, the firm earned ($0.26) EPS. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. Research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently modified their holdings of OCUL. Nisa Investment Advisors LLC grew its position in shares of Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 1,392 shares during the last quarter. Brooklyn Investment Group lifted its position in Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 3,155 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ocular Therapeutix by 17.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 893 shares in the last quarter. Trust Co. of Vermont grew its holdings in Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 8,112 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OCUL has been the topic of several research analyst reports. Piper Sandler upped their price objective on Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research note on Thursday, October 2nd. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Scotiabank dropped their target price on shares of Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.13.

Ocular Therapeutix Company Profile

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.