Spruce Street Capital LP Takes Position in Ocular Therapeutix, Inc. $OCUL

Spruce Street Capital LP acquired a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the fourth quarter, HoldingsChannel reports. The firm acquired 783,999 shares of the biopharmaceutical company’s stock, valued at approximately $9,518,000. Ocular Therapeutix accounts for approximately 3.1% of Spruce Street Capital LP’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors have also recently made changes to their positions in OCUL. Vanguard Group Inc. grew its position in Ocular Therapeutix by 26.3% in 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. Avoro Capital Advisors LLC grew its position in Ocular Therapeutix by 38.5% in the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after acquiring an additional 2,850,000 shares in the last quarter. TCG Crossover Management LLC grew its position in Ocular Therapeutix by 15.0% in the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock worth $71,510,000 after acquiring an additional 798,084 shares in the last quarter. Geode Capital Management LLC grew its position in Ocular Therapeutix by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 4,356,547 shares of the biopharmaceutical company’s stock worth $52,896,000 after acquiring an additional 1,018,094 shares in the last quarter. Finally, State Street Corp grew its position in Ocular Therapeutix by 21.3% in the fourth quarter. State Street Corp now owns 4,196,330 shares of the biopharmaceutical company’s stock worth $50,943,000 after acquiring an additional 736,318 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Up 0.6%

Shares of NASDAQ OCUL opened at $8.99 on Tuesday. 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 cap of $1.97 billion, a P/E ratio of -6.16 and a beta of 0.90. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $9.98.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of Ocular Therapeutix stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 over the last ninety days. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research report on Monday, April 13th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. William Blair reiterated an “outperform” rating on shares of Ocular Therapeutix in a research report on Monday, March 2nd. Finally, Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.