Ocular Therapeutix (NASDAQ:OCUL) Sees Strong Trading Volume

Ocular Therapeutix, Inc. (NASDAQ:OCUL) saw unusually-high trading volume on Friday . Approximately 783,758 shares were traded during mid-day trading, a decline of 61% from the previous session’s volume of 2,001,828 shares.The stock last traded at $5.60 and had previously closed at $5.86.

Analyst Ratings Changes

OCUL has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Bank of America started coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a “buy” rating and a $15.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Ocular Therapeutix in a research report on Friday. Finally, StockNews.com lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.60.

Ocular Therapeutix Trading Down 10.2 %

The stock has a 50 day simple moving average of $8.74 and a 200-day simple moving average of $5.29. The firm has a market capitalization of $781.79 million, a P/E ratio of -4.34 and a beta of 1.30. The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The company had revenue of $14.80 million during the quarter, compared to the consensus estimate of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. On average, equities research analysts forecast that Ocular Therapeutix, Inc. will post -0.68 EPS for the current fiscal year.

Insider Activity at Ocular Therapeutix

In related news, CEO Antony C. Mattessich sold 18,338 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at approximately $2,118,317.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Ocular Therapeutix news, major shareholder Summer Road Llc purchased 930,851 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $7.52 per share, with a total value of $6,999,999.52. Following the acquisition, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Antony C. Mattessich sold 18,338 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $90,773.10. Following the completion of the transaction, the chief executive officer now directly owns 427,943 shares in the company, valued at $2,118,317.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,366 shares of company stock worth $194,862. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 26.0% during the 4th quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company’s stock worth $22,827,000 after acquiring an additional 1,057,123 shares in the last quarter. Trust Co. of Vermont raised its holdings in Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Virtu Financial LLC purchased a new stake in Ocular Therapeutix during the 4th quarter valued at $277,000. Price T Rowe Associates Inc. MD raised its holdings in Ocular Therapeutix by 31.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company’s stock valued at $238,000 after buying an additional 12,859 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Ocular Therapeutix by 5.7% during the 4th quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company’s stock valued at $1,101,000 after buying an additional 13,321 shares during the period. 59.21% of the stock is owned by hedge funds and other institutional investors.

About Ocular Therapeutix

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.