543,582 Shares in Ocular Therapeutix, Inc. $OCUL Acquired by Man Group plc

Man Group plc purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the 2nd quarter, Holdings Channel reports. The firm purchased 543,582 shares of the biopharmaceutical company’s stock, valued at approximately $5,338,000.

A number of other large investors also recently modified their holdings of OCUL. BlackRock Inc. purchased a new stake in shares of Ocular Therapeutix in the 2nd quarter valued at approximately $190,278,000. Summer Road LLC lifted its position in shares of Ocular Therapeutix by 6.9% during the 1st quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after purchasing an additional 771,270 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Ocular Therapeutix by 5.1% during the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock worth $130,842,000 after purchasing an additional 527,777 shares in the last quarter. Finally, TCG Crossover Management LLC increased its holdings in Ocular Therapeutix by 15.0% in the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after buying an additional 798,084 shares during the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $10.36 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The firm’s fifty day moving average price is $9.68 and its 200 day moving average price is $9.16. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period last year, the business earned ($0.39) EPS. Ocular Therapeutix’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OCUL shares. Robert W. Baird raised their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,649 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $233,159.73. Following the transaction, the insider owned 2,525,429 shares in the company, valued at $27,198,870.33. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, 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. Also, insider Peter Kaiser sold 3,035 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.77, for a total value of $32,686.95. Following the transaction, the insider directly owned 264,378 shares in the company, valued at approximately $2,847,351.06. This trade represents a 1.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders have sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by insiders.

Ocular Therapeutix Profile

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.