Ocular Therapeutix (NASDAQ:OCUL) Trading Down 2.8% After Insider Selling

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) traded down 2.8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $9.42 and last traded at $9.48. 128,537 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,828,784 shares. The stock had previously closed at $9.75.

Specifically, insider Jeffrey S. Heier sold 2,948 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the transaction, the insider now owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OCUL. HC Wainwright lifted their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, November 15th. Robert W. Baird lowered their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Scotiabank initiated coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Trading Up 2.3 %

The company has a market cap of $1.57 billion, a price-to-earnings ratio of -7.39 and a beta of 1.26. The company’s 50 day moving average price is $9.92 and its 200 day moving average price is $8.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Hedge Funds Weigh In On Ocular Therapeutix

Several institutional investors have recently bought and sold shares of OCUL. Deltec Asset Management LLC boosted its position in Ocular Therapeutix by 9.6% during the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock worth $17,717,000 after purchasing an additional 226,181 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Ocular Therapeutix by 1,142.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock valued at $6,031,000 after purchasing an additional 609,328 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares during the period. Cetera Advisors LLC lifted its position in shares of Ocular Therapeutix by 1,455.0% during the 1st quarter. Cetera Advisors LLC now owns 723,490 shares of the biopharmaceutical company’s stock worth $6,584,000 after purchasing an additional 676,963 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in Ocular Therapeutix by 81.3% during the 2nd quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock valued at $2,581,000 after purchasing an additional 169,172 shares during the period. 59.21% of the stock is currently owned by 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.