Squarepoint Ops LLC raised its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) by 44.4% during the 2nd quarter, Holdings Channel reports. The fund owned 1,415,913 shares of the biopharmaceutical company’s stock after purchasing an additional 435,156 shares during the period. Squarepoint Ops LLC’s holdings in Ocular Therapeutix were worth $13,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in OCUL. Steward Partners Investment Advisory LLC lifted its holdings in 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 worth $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC acquired a new stake in Ocular Therapeutix during the 4th quarter valued at $42,000. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix in the 4th quarter worth about $61,000. Finally, State of Wyoming acquired a new stake in shares of Ocular Therapeutix during the 4th quarter valued at $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.
Insider Activity at Ocular Therapeutix
In related news, insider Peter Kaiser sold 3,035 shares of Ocular Therapeutix stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $32,686.95. Following the completion of the sale, the insider directly owned 264,378 shares in the company, valued at $2,847,351.06. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Also, insider Pravin Dugel sold 21,649 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $233,159.73. Following the sale, the insider directly owned 2,525,429 shares of the company’s stock, valued at $27,198,870.33. This represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 a total of 29,877 shares of company stock worth $321,827 over the last 90 days. Insiders own 3.10% of the company’s stock.
Ocular Therapeutix Stock Performance
Ocular Therapeutix (NASDAQ:OCUL – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.39) EPS. Sell-side analysts predict that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on OCUL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Robert W. Baird raised their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Wall Street Zen raised shares of Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Eleven equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.75.
Read Our Latest Research Report on OCUL
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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