Wellington Management Group LLP Purchases 148,310 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Wellington Management Group LLP boosted its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 47.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 462,864 shares of the biopharmaceutical company’s stock after purchasing an additional 148,310 shares during the quarter. Wellington Management Group LLP owned approximately 0.30% of Ocular Therapeutix worth $4,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC increased its stake in shares of Ocular Therapeutix by 12.7% during the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after purchasing an additional 911,064 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Ocular Therapeutix in the 3rd quarter worth approximately $24,584,000. Point72 Asset Management L.P. bought a new position in Ocular Therapeutix during the 2nd quarter valued at approximately $18,514,000. Deltec Asset Management LLC raised its stake in Ocular Therapeutix by 0.4% during the third quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock valued at $22,621,000 after buying an additional 9,808 shares during the last quarter. Finally, Braidwell LP boosted its holdings in Ocular Therapeutix by 36.3% in the third quarter. Braidwell LP now owns 2,239,770 shares of the biopharmaceutical company’s stock worth $19,486,000 after acquiring an additional 596,000 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OCUL. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. Scotiabank initiated coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the transaction, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by insiders.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $9.02 on Wednesday. The firm has a market capitalization of $1.42 billion, a PE ratio of -6.83 and a beta of 1.19. The company has a 50 day moving average price of $10.05 and a 200-day moving average price of $8.54. Ocular Therapeutix, Inc. has a 52 week low of $3.63 and a 52 week high of $11.77. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

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.