Geode Capital Management LLC Decreases Holdings in Ocular Therapeutix, Inc. $OCUL

Geode Capital Management LLC decreased its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,284,171 shares of the biopharmaceutical company’s stock after selling 138,241 shares during the period. Geode Capital Management LLC’s holdings in Ocular Therapeutix were worth $30,481,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Ocular Therapeutix by 62.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares during the last quarter. Brooklyn Investment Group lifted its stake in Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 3,155 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ocular Therapeutix by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares during the period. Trust Co. of Vermont increased its position in Ocular Therapeutix by 16.1% in the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Ocular Therapeutix by 8.1% in the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 1,472 shares during the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Todd Anderman sold 11,132 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $12.34, for a total value of $137,368.88. Following the completion of the transaction, the insider directly owned 87,568 shares of the company’s stock, valued at $1,080,589.12. This trade represents a 11.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey S. Heier sold 10,502 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $115,942.08. Following the transaction, the insider owned 249,409 shares of the company’s stock, valued at $2,753,475.36. This trade represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,353 shares of company stock worth $373,034 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Ocular Therapeutix Stock Up 0.1%

OCUL stock opened at $12.14 on Friday. The stock has a 50-day simple moving average of $11.68 and a two-hundred day simple moving average of $10.88. Ocular Therapeutix, Inc. has a twelve month low of $5.78 and a twelve month high of $13.85. The firm has a market capitalization of $2.59 billion, a PE ratio of -9.48 and a beta of 1.53. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $14.54 million for the quarter, compared to the consensus estimate of $14.57 million. On average, equities analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Ocular Therapeutix from $21.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Scotiabank lowered their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Robert W. Baird increased their target price on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. JMP Securities lifted their target price on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 1st. Finally, Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average target price of $22.33.

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.