Wesbanco Bank Inc. acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) during the 1st quarter, Holdings Channel reports. The firm acquired 103,000 shares of the biopharmaceutical company’s stock, valued at approximately $872,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of 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 valued at $27,000 after acquiring an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Ocular Therapeutix in the 4th quarter worth about $31,000. Hilton Head Capital Partners LLC boosted its holdings 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 valued at $38,000 after purchasing an additional 1,053 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix in the 4th quarter valued at about $61,000. Finally, KBC Group NV acquired a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.11.
Ocular Therapeutix Price Performance
OCUL stock opened at $9.84 on Monday. The company’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.80. The firm has a market cap of $2.15 billion, a P/E ratio of -6.74 and a beta of 0.90. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44.
Insider Transactions at Ocular Therapeutix
In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the business’s 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 completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 valued at $237,792 over the last quarter. Company insiders own 3.10% of the company’s stock.
Ocular Therapeutix Company 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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