Rhenman & Partners Asset Management AB Increases Stock Holdings in Ocular Therapeutix, Inc. $OCUL

Rhenman & Partners Asset Management AB lifted its position in Ocular Therapeutix, Inc. (NASDAQ:OCULFree Report) by 31.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 265,000 shares of the biopharmaceutical company’s stock after purchasing an additional 63,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Ocular Therapeutix were worth $3,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OCUL. Millennium Management LLC lifted its holdings in shares of Ocular Therapeutix by 3,136.1% in the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after buying an additional 3,736,560 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Ocular Therapeutix by 2,003.2% in the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after purchasing an additional 3,261,619 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after purchasing an additional 2,850,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 26.3% in the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Ocular Therapeutix by 902.9% in the third quarter. Balyasny Asset Management L.P. now owns 2,189,276 shares of the biopharmaceutical company’s stock valued at $25,593,000 after purchasing an additional 1,970,983 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Insiders have sold 28,999 shares of company stock worth $237,792 in the last quarter. 2.30% of the stock is owned by company insiders.

Ocular Therapeutix Trading Up 2.8%

Shares of OCUL opened at $8.94 on Friday. Ocular Therapeutix, Inc. has a 1-year low of $6.23 and a 1-year high of $16.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The firm’s 50 day simple moving average is $8.90 and its 200 day simple moving average is $10.01. The company has a market capitalization of $1.96 billion, a P/E ratio of -6.12 and a beta of 0.89.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OCUL. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Monday, April 13th. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

View Our Latest Report on Ocular Therapeutix

About Ocular Therapeutix

(Free Report)

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.

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Institutional Ownership by Quarter for Ocular Therapeutix (NASDAQ:OCUL)

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