Ocular Therapeutix (NASDAQ:OCUL) Trading Down 2.5% – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) dropped 2.5% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.35. Approximately 117,335 shares were traded during trading, a decline of 93% from the average daily volume of 1,756,840 shares. The stock had previously closed at $8.56.

Analysts Set New Price Targets

OCUL has been the subject of several research reports. Scotiabank started coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Stock Down 2.7 %

The firm’s 50 day moving average price is $9.91 and its 200-day moving average price is $8.67. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.31 billion, a P/E ratio of -6.31 and a beta of 1.20.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the 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 owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Ocular Therapeutix by 146.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after acquiring an additional 660,080 shares during the last quarter. Rhumbline Advisers raised its holdings in Ocular Therapeutix by 39.1% in the second quarter. Rhumbline Advisers now owns 211,301 shares of the biopharmaceutical company’s stock worth $1,445,000 after purchasing an additional 59,345 shares during the period. Patient Square Capital LP bought a new position in shares of Ocular Therapeutix during the third quarter worth $2,049,000. Bank of New York Mellon Corp grew its holdings in shares of Ocular Therapeutix by 49.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company’s stock valued at $3,390,000 after buying an additional 164,383 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Ocular Therapeutix in the 3rd quarter valued at $393,000. 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.