Ocular Therapeutix (NASDAQ:OCUL) Shares Down 2.8% on Insider Selling

Ocular Therapeutix, Inc. (NASDAQ:OCUL) fell 2.8% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $9.42 and last traded at $9.48. 128,537 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,828,784 shares. The stock had previously closed at $9.75.

Specifically, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OCUL. Robert W. Baird decreased their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. HC Wainwright lifted their price objective on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Ocular Therapeutix Price Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -7.39 and a beta of 1.26. The business has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $8.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its position 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 acquiring an additional 1,015 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Ocular Therapeutix by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company’s stock worth $3,860,000 after purchasing an additional 1,168 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 1,481 shares during the period. HighVista Strategies LLC lifted its stake in Ocular Therapeutix by 5.1% in the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 3,168 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Ocular Therapeutix by 36.9% during the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 4,695 shares during the period. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company 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.