Summer Road LLC raised its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL – Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,879,825 shares of the biopharmaceutical company’s stock after buying an additional 771,270 shares during the quarter. Ocular Therapeutix comprises 70.8% of Summer Road LLC’s portfolio, making the stock its largest position. Summer Road LLC owned approximately 5.46% of Ocular Therapeutix worth $100,622,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC grew its position in shares of 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 acquiring an additional 1,053 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of 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 acquiring an additional 1,242 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ocular Therapeutix by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock worth $674,000 after purchasing an additional 1,314 shares during the last quarter. Trust Co. of Vermont lifted its stake in Ocular Therapeutix by 24.3% during the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares during the period. Institutional investors own 59.21% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on OCUL. Chardan Capital boosted their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.
Ocular Therapeutix Stock Performance
Shares of OCUL opened at $9.82 on Wednesday. The firm has a market capitalization of $2.15 billion, a PE ratio of -6.73 and a beta of 0.89. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $9.11 and a 200 day moving average price of $9.72. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44.
Insider Activity
In other 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 value 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. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 in the last ninety days. Company 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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