Vanguard Group Inc. raised its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) by 26.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,575,193 shares of the biopharmaceutical company’s stock after acquiring an additional 2,411,953 shares during the period. Vanguard Group Inc. owned approximately 5.43% of Ocular Therapeutix worth $140,523,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV purchased a new position in Ocular Therapeutix during the fourth quarter worth approximately $78,000. Quarry LP purchased a new position in shares of Ocular Therapeutix during the 3rd quarter worth $80,000. Trust Co. of Vermont raised its holdings in shares of Ocular Therapeutix by 24.3% during the 4th quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 1,750 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ocular Therapeutix by 53.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,353 shares of the biopharmaceutical company’s stock valued at $126,000 after acquiring an additional 3,626 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Ocular Therapeutix in the third quarter valued at about $126,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on OCUL. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus price target of $23.78.
Ocular Therapeutix Trading Down 3.8%
NASDAQ OCUL opened at $9.28 on Tuesday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The company’s 50 day moving average price is $9.08 and its 200 day moving average price is $10.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -6.36 and a beta of 0.93.
Insiders Place Their Bets
In related news, insider Sanjay Nayak sold 10,348 shares of Ocular Therapeutix stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the transaction, the insider directly owned 332,412 shares in the company, valued at approximately $3,005,004.48. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nadia Waheed sold 3,510 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.74, for a total transaction of $27,167.40. Following the completion of the transaction, the insider directly owned 314,907 shares in the company, valued at $2,437,380.18. This represents a 1.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 185,731 shares of company stock worth $1,653,407. Company insiders own 2.30% of the company’s stock.
Ocular Therapeutix Profile
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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