Avoro Capital Advisors LLC Has $130.84 Million Stake in Ocular Therapeutix, Inc. $OCUL

Avoro Capital Advisors LLC grew its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,777,777 shares of the biopharmaceutical company’s stock after acquiring an additional 527,777 shares during the quarter. Ocular Therapeutix accounts for approximately 1.3% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 20th largest position. Avoro Capital Advisors LLC owned 4.95% of Ocular Therapeutix worth $130,842,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OCUL. Millennium Management LLC raised its stake in Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock worth $45,073,000 after acquiring an additional 3,736,560 shares in the last quarter. Alliancebernstein L.P. raised its stake in Ocular Therapeutix by 2,003.2% during the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after acquiring an additional 3,261,619 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 acquiring an additional 2,411,953 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Ocular Therapeutix by 902.9% during the third quarter. Balyasny Asset Management L.P. now owns 2,189,276 shares of the biopharmaceutical company’s stock worth $25,593,000 after acquiring an additional 1,970,983 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Ocular Therapeutix during the third quarter worth about $18,721,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insider Activity

In other news, insider Pravin Dugel sold 21,156 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the transaction, the insider owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 sold a total of 28,999 shares of company stock valued at $237,792 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock opened at $8.94 on Wednesday. The business has a 50 day moving average of $8.92 and a 200-day moving average of $9.95. 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 has a market capitalization of $1.96 billion, a P/E ratio of -6.12 and a beta of 0.90.

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.