Truist Financial Corp Acquires New Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Truist Financial Corp acquired a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 50,000 shares of the biopharmaceutical company’s stock, valued at approximately $427,000.

Several other institutional investors also recently bought and sold shares of OCUL. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,015 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Ocular Therapeutix in the third quarter worth $70,000. Palumbo Wealth Management LLC purchased a new position in Ocular Therapeutix in the fourth quarter worth $100,000. Creative Planning acquired a new stake in shares of Ocular Therapeutix during the third quarter worth $182,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock worth $285,000 after buying an additional 3,347 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ocular Therapeutix

In related news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the transaction, the insider now directly owns 204,563 shares in the company, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock worth $283,772 over the last three months. Company insiders own 3.50% of the company’s stock.

Ocular Therapeutix Trading Up 9.6 %

NASDAQ:OCUL opened at $6.50 on Wednesday. Ocular Therapeutix, Inc. has a 12 month low of $4.06 and a 12 month high of $11.78. The firm has a fifty day simple moving average of $7.84 and a 200-day simple moving average of $8.90. 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 capitalization of $1.02 billion, a P/E ratio of -4.92 and a beta of 1.22.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Ocular Therapeutix Profile

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.