Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 5%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was down 5% on Wednesday . The company traded as low as $4.74 and last traded at $4.75. Approximately 870,652 shares changed hands during trading, a decline of 59% from the average daily volume of 2,117,073 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

Several research analysts have recently commented on OCUL shares. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Ocular Therapeutix in a research report on Friday, April 19th. Bank of America initiated coverage on Ocular Therapeutix in a research report on Friday, February 9th. They set a “buy” rating and a $15.00 target price on the stock. Piper Sandler upped their target price on Ocular Therapeutix from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, April 16th. Finally, StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Stock Performance

The stock has a market cap of $734.05 million, a price-to-earnings ratio of -3.80 and a beta of 1.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 6.66 and a quick ratio of 6.59. The firm has a fifty day moving average of $8.63 and a 200 day moving average of $5.36.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The company had revenue of $14.80 million during the quarter, compared to analyst estimates of $15.31 million. As a group, sell-side analysts forecast that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Transactions at Ocular Therapeutix

In other news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Summer Road Llc bought 930,851 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now owns 8,591,401 shares in the company, valued at approximately $64,607,335.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the completion of the transaction, the chief financial officer now owns 139,932 shares of the company’s stock, valued at $692,663.40. The disclosure for this sale can be found here. Insiders sold a total of 39,366 shares of company stock worth $194,862 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont raised its stake in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. Barclays PLC increased its position in shares of Ocular Therapeutix by 22.9% during the third quarter. Barclays PLC now owns 25,963 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 4,840 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 5,730 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 7,152 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Ocular Therapeutix by 60.5% during the fourth quarter. SG Americas Securities LLC now owns 19,646 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 7,404 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.