Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $24,747.60 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 3,018 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $24,747.60. Following the completion of the sale, the insider directly owned 320,350 shares of the company’s stock, valued at $2,626,870. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ocular Therapeutix Trading Up 7.1%

Shares of OCUL traded up $0.61 during mid-day trading on Thursday, reaching $9.15. The stock had a trading volume of 3,382,545 shares, compared to its average volume of 5,029,148. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The business’s fifty day moving average is $8.78 and its 200 day moving average is $10.24. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -6.27 and a beta of 0.93.

Analysts Set New Price Targets

OCUL has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. William Blair reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Monday, April 13th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.78.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds have recently added to or reduced their stakes in OCUL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ocular Therapeutix by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock valued at $686,000 after purchasing an additional 5,156 shares during the last quarter. Caxton Associates LLP purchased a new position in Ocular Therapeutix in the first quarter valued at approximately $248,000. Creative Planning increased its stake in Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after purchasing an additional 3,791 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ocular Therapeutix by 110.8% in the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock valued at $6,608,000 after purchasing an additional 374,269 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Ocular Therapeutix by 57.9% in the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 6,855 shares during the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.