Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $24,329.40 in Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Peter Kaiser sold 2,967 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $24,329.40. Following the sale, the insider owned 266,141 shares of the company’s stock, valued at approximately $2,182,356.20. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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

Shares of OCUL stock opened at $9.01 on Friday. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44. The company has a market cap of $1.97 billion, a P/E ratio of -6.17 and a beta of 0.93. The business has a fifty day simple moving average of $8.80 and a 200 day simple moving average of $10.22.

Analysts Set New Price Targets

Several brokerages recently weighed in on OCUL. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of Ocular Therapeutix in a research report on Monday, April 13th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Hedge Funds Weigh In On Ocular Therapeutix

Several large investors have recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Ocular Therapeutix by 574.4% in the third quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company’s stock valued at $7,871,000 after buying an additional 573,504 shares during the period. Vanguard Group Inc. increased its stake in shares of Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after buying an additional 771,065 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in shares of Ocular Therapeutix in the third quarter valued at about $2,360,000. Avoro Capital Advisors LLC increased its stake in shares of Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after buying an additional 2,850,000 shares during the period. Finally, Rhenman & Partners Asset Management AB acquired a new stake in shares of Ocular Therapeutix in the third quarter valued at about $2,361,000. 59.21% of the stock is currently owned by 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.