Ocular Therapeutix, Inc. (OCUL) Position Lifted by State Street Corp
State Street Corp increased its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,923 shares of the biopharmaceutical company’s stock after buying an additional 40,782 shares during the period. State Street Corp owned 1.28% of Ocular Therapeutix worth $3,450,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in Ocular Therapeutix by 3.0% during the 2nd quarter. Royal Bank of Canada now owns 203,558 shares of the biopharmaceutical company’s stock worth $1,887,000 after acquiring an additional 5,853 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Ocular Therapeutix by 4.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 33,417 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 1,422 shares in the last quarter. Voya Investment Management LLC bought a new position in Ocular Therapeutix during the 2nd quarter worth about $102,000. Parametric Portfolio Associates LLC grew its holdings in Ocular Therapeutix by 97.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 60,519 shares of the biopharmaceutical company’s stock worth $561,000 after acquiring an additional 29,937 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Ocular Therapeutix by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 905,456 shares of the biopharmaceutical company’s stock worth $8,394,000 after acquiring an additional 3,194 shares in the last quarter. 52.94% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on OCUL. ValuEngine cut shares of Ocular Therapeutix from a “sell” rating to a “strong sell” rating in a report on Thursday, September 21st. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Ocular Therapeutix in a report on Wednesday, November 8th. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, September 25th. Zacks Investment Research cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, Guggenheim assumed coverage on shares of Ocular Therapeutix in a report on Monday, October 23rd. They issued a “buy” rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.67.
Shares of Ocular Therapeutix, Inc. (NASDAQ OCUL) opened at $4.15 on Friday. Ocular Therapeutix, Inc. has a 1-year low of $3.30 and a 1-year high of $11.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.78 and a current ratio of 4.79.
Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.54). Ocular Therapeutix had a negative net margin of 3,241.19% and a negative return on equity of 126.31%. The business had revenue of $523.00 million for the quarter, compared to analysts’ expectations of $0.52 million. During the same period last year, the business earned ($0.39) EPS. The company’s revenue was up 9.6% compared to the same quarter last year. analysts expect that Ocular Therapeutix, Inc. will post -2.37 EPS for the current year.
In related news, Chairman Amarpreet Sawhney acquired 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $5.18 per share, with a total value of $98,420.00. Following the transaction, the chairman now directly owns 696,390 shares of the company’s stock, valued at approximately $3,607,300.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel M. Bollag acquired 24,700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average cost of $3.93 per share, with a total value of $97,071.00. Following the completion of the transaction, the insider now directly owns 24,700 shares in the company, valued at $97,071. The disclosure for this purchase can be found here. Insiders bought a total of 48,500 shares of company stock worth $214,691 over the last 90 days. Company insiders own 26.10% of the company’s stock.
About Ocular Therapeutix
Ocular Therapeutix, Inc is a biopharmaceutical company focused on the development, manufacturing and commercialization of therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Its lead product candidate, DEXTENZA (dexamethasone insert) for intracanalicular use, has completed Phase III clinical development for the treatment of ocular pain and inflammation following ophthalmic surgery.
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