Y Intercept Hong Kong Ltd Acquires Shares of 36,815 Ocular Therapeutix, Inc. $OCUL

Y Intercept Hong Kong Ltd acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,815 shares of the biopharmaceutical company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OCUL. Cubist Systematic Strategies LLC acquired a new position in shares of Ocular Therapeutix during the first quarter worth about $1,011,000. Deltec Asset Management LLC lifted its position in Ocular Therapeutix by 2.9% in the second quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company’s stock valued at $25,937,000 after purchasing an additional 78,519 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,154 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 893 shares in the last quarter. Truist Financial Corp increased its position in Ocular Therapeutix by 100.0% during the 2nd quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 50,000 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Ocular Therapeutix by 63.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 61,200 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 23,700 shares during the period. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Wednesday. Needham & Company LLC increased their price objective on Ocular Therapeutix from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Scotiabank reduced their target price on Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 6th. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research note on Wednesday. Finally, Zacks Research upgraded shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Twelve 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. According to data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $10.85 on Friday. The stock has a fifty day moving average price of $11.96 and a 200 day moving average price of $10.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. The stock has a market cap of $1.89 billion, a PE ratio of -8.48 and a beta of 1.53. Ocular Therapeutix, Inc. has a 1 year low of $5.78 and a 1 year high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $14.54 million during the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%. Sell-side analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following the completion of the transaction, the insider directly owned 194,440 shares in the company, valued at approximately $2,144,673.20. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd Anderman sold 11,132 shares of Ocular Therapeutix stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $12.34, for a total transaction of $137,368.88. Following the transaction, the insider owned 87,568 shares of the company’s stock, valued at approximately $1,080,589.12. The trade was a 11.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,806 shares of company stock valued at $727,648. Insiders own 2.30% of the company’s stock.

Ocular Therapeutix Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.