Octagon Capital Advisors LP grew its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,166,600 shares of the biopharmaceutical company’s stock after purchasing an additional 543,000 shares during the quarter. Ocular Therapeutix comprises 3.0% of Octagon Capital Advisors LP’s portfolio, making the stock its 15th biggest holding. Octagon Capital Advisors LP owned approximately 1.45% of Ocular Therapeutix worth $26,821,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in OCUL. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% during the 4th 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. Rockefeller Capital Management L.P. acquired a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $31,000. Hilton Head Capital Partners LLC increased its position in Ocular Therapeutix by 30.4% in the 1st 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 during the period. Atlas Capital Advisors Inc. bought a new position in Ocular Therapeutix in the 4th quarter worth approximately $61,000. Finally, KBC Group NV acquired a new position in shares of Ocular Therapeutix during the fourth quarter worth approximately $78,000. 59.21% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Chardan Capital raised their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average target price of $25.11.
Ocular Therapeutix Stock Performance
Shares of NASDAQ OCUL opened at $8.51 on Monday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -5.83 and a beta of 0.88. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The business has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $9.28. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.
Insider Activity
In other news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 ninety days, insiders have sold 28,999 shares of company stock valued at $237,792. Corporate insiders own 3.10% 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.
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