Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 1,858 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Sanjay Nayak sold 1,858 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $15,235.60. Following the sale, the insider directly owned 328,795 shares in the company, valued at approximately $2,696,119. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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

Ocular Therapeutix stock traded up $0.61 during midday trading on Thursday, reaching $9.15. The company had a trading volume of 3,382,545 shares, compared to its average volume of 5,029,148. The company has a market capitalization of $2.00 billion, a P/E ratio of -6.27 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. The firm’s fifty day simple moving average is $8.78 and its 200-day simple moving average is $10.24. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. increased its holdings in shares of Ocular Therapeutix by 574.4% during the 3rd quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company’s stock worth $7,871,000 after buying an additional 573,504 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ocular Therapeutix by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after buying an additional 771,065 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in Ocular Therapeutix in the 3rd quarter valued at approximately $2,360,000. Avoro Capital Advisors LLC increased its holdings in Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after purchasing an additional 2,850,000 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB purchased a new stake in Ocular Therapeutix in the third quarter valued at $2,361,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Citigroup reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research note on Monday, April 13th. Twelve investment 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 data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

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.