Ocular Therapeutix, Inc. (NASDAQ:OCUL) Short Interest Up 20.0% in February

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 17,648,381 shares, a growth of 20.0% from the February 12th total of 14,706,215 shares. Approximately 8.3% of the shares of the stock are sold short. Based on an average trading volume of 12,294,841 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 12,294,841 shares, the days-to-cover ratio is presently 1.4 days. Approximately 8.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OCUL. William Blair restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. Chardan Capital reiterated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Jefferies Financial Group reissued a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Needham & Company LLC decreased their price objective on Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Insider Activity

In related news, insider Nadia Waheed sold 7,863 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $71,081.52. Following the completion of the transaction, the insider directly owned 318,417 shares of the company’s stock, valued at approximately $2,878,489.68. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Md Lindstrom purchased 60,229 shares of Ocular Therapeutix stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $7.66 per share, for a total transaction of $461,354.14. Following the transaction, the director directly owned 246,933 shares of the company’s stock, valued at $1,891,506.78. The trade was a 32.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 197,221 shares of company stock worth $1,754,805. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its stake in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth about $31,000. Hilton Head Capital Partners LLC acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $42,000. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix during the fourth quarter worth about $61,000. Finally, KBC Group NV purchased a new position in Ocular Therapeutix during the fourth quarter valued at approximately $78,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL traded up $0.05 during midday trading on Tuesday, hitting $8.68. The company’s stock had a trading volume of 2,608,715 shares, compared to its average volume of 9,583,962. Ocular Therapeutix has a fifty-two week low of $5.80 and a fifty-two week high of $16.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.39 and a quick ratio of 15.32. The firm has a market cap of $1.89 billion, a P/E ratio of -6.03 and a beta of 0.91. The firm’s 50 day moving average is $9.72 and its 200-day moving average is $11.35.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. The business had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) EPS. Equities analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Ocular Therapeutix Company 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.