Pravin Dugel Sells 21,156 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Price Performance

Ocular Therapeutix stock opened at $9.01 on Friday. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The business has a 50 day simple moving average of $8.80 and a 200-day simple moving average of $10.22. The stock has a market capitalization of $1.97 billion, a PE ratio of -6.17 and a beta of 0.93.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in Ocular Therapeutix by 1,274.6% during the first quarter. NewEdge Advisors LLC now owns 13,746 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 12,746 shares during the period. California State Teachers Retirement System lifted its position in Ocular Therapeutix by 41.8% during the first quarter. California State Teachers Retirement System now owns 213,706 shares of the biopharmaceutical company’s stock worth $1,810,000 after buying an additional 63,005 shares during the period. Readystate Asset Management LP purchased a new position in Ocular Therapeutix during the first quarter worth about $7,484,000. Royal Bank of Canada lifted its position in Ocular Therapeutix by 175.1% during the first quarter. Royal Bank of Canada now owns 26,554 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 16,902 shares during the period. Finally, Rock Springs Capital Management LP lifted its position in Ocular Therapeutix by 11.0% during the first quarter. Rock Springs Capital Management LP now owns 383,716 shares of the biopharmaceutical company’s stock worth $3,250,000 after buying an additional 37,896 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Chardan Capital reissued a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Wednesday, February 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Ocular Therapeutix in a report on Monday, April 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.78.

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.