Patient Square Capital LP Lowers Stock Holdings in Ocular Therapeutix, Inc. $OCUL

Patient Square Capital LP cut its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 715,000 shares of the biopharmaceutical company’s stock after selling 102,699 shares during the quarter. Ocular Therapeutix makes up approximately 2.2% of Patient Square Capital LP’s portfolio, making the stock its 9th largest holding. Patient Square Capital LP’s holdings in Ocular Therapeutix were worth $8,358,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after purchasing an additional 771,065 shares during the period. Invesco Ltd. boosted its holdings in Ocular Therapeutix by 91.2% in the 2nd quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company’s stock worth $14,280,000 after buying an additional 734,017 shares during the period. Raymond James Financial Inc. grew its stake in Ocular Therapeutix by 142.8% in the 2nd quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company’s stock valued at $8,207,000 after buying an additional 520,138 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Ocular Therapeutix by 1.7% in the 2nd quarter. Peregrine Capital Management LLC now owns 861,962 shares of the biopharmaceutical company’s stock valued at $7,999,000 after buying an additional 14,494 shares in the last quarter. Finally, Saturn V Capital Management LP raised its holdings in Ocular Therapeutix by 21.8% during the 2nd quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock valued at $6,761,000 after acquiring an additional 130,385 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Sanjay Nayak sold 10,348 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total transaction of $93,545.92. Following the completion of the sale, the insider directly owned 332,412 shares in the company, valued at $3,005,004.48. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Donald Notman sold 11,446 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $103,471.84. Following the completion of the transaction, the chief operating officer directly owned 366,356 shares of the company’s stock, valued at approximately $3,311,858.24. This represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 166,029 shares of company stock valued at $1,498,430. Company insiders own 2.30% of the company’s stock.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $7.78 on Monday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -5.40 and a beta of 0.90. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $10.76 and a 200 day simple moving average of $11.67. Ocular Therapeutix, Inc. has a 52 week low of $5.78 and a 52 week high of $16.44.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on OCUL. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a report on Thursday, February 5th. TD Cowen reissued a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, HC Wainwright increased their price target on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.78.

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.