Catalio Capital Management LP Acquires Shares of 714,501 Ocular Therapeutix, Inc. $OCUL

Catalio Capital Management LP acquired a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 714,501 shares of the biopharmaceutical company’s stock, valued at approximately $8,674,000. Ocular Therapeutix accounts for approximately 1.6% of Catalio Capital Management LP’s portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in shares of Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 1,314 shares during the period. Trust Co. of Vermont increased its position in shares of Ocular Therapeutix by 24.3% in the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 1,750 shares during the period. Rafferty Asset Management LLC increased its position in shares of Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 2,343 shares during the period. Finally, Creative Planning increased its position in shares of Ocular Therapeutix by 14.6% in the third quarter. Creative Planning now owns 24,535 shares of the biopharmaceutical company’s stock valued at $287,000 after acquiring an additional 3,125 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Insider Activity

In related news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Insiders have sold a total of 28,999 shares of company stock worth $237,792 in the last 90 days. 3.10% of the stock is owned by insiders.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL opened at $9.64 on Thursday. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. The company’s 50-day moving average is $8.95 and its 200 day moving average is $9.94. The stock has a market capitalization of $2.11 billion, a P/E ratio of -6.60 and a beta of 0.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OCUL shares. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Chardan Capital reiterated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Monday, April 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Twelve equities research 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. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price 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.