Ocular Therapeutix (NASDAQ:OCUL) Shares Down 2.5% – Here’s Why

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price was down 2.5% during trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.35. Approximately 117,335 shares traded hands during trading, a decline of 93% from the average daily volume of 1,756,840 shares. The stock had previously closed at $8.56.

Analyst Ratings Changes

Several equities analysts have issued reports on OCUL shares. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. Scotiabank initiated coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix currently has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Ocular Therapeutix Price Performance

The business has a fifty day simple moving average of $9.95 and a 200-day simple moving average of $8.65. The stock has a market capitalization of $1.32 billion, a P/E ratio of -6.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

Insiders Place Their Bets

In related news, insider Jeffrey S. Heier sold 2,948 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the transaction, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently modified their holdings of OCUL. Bank of New York Mellon Corp grew its position in Ocular Therapeutix by 49.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company’s stock valued at $3,390,000 after purchasing an additional 164,383 shares during the period. Banco Santander S.A. raised its holdings in shares of Ocular Therapeutix by 81.3% in the 2nd quarter. Banco Santander S.A. now owns 377,368 shares of the biopharmaceutical company’s stock worth $2,581,000 after acquiring an additional 169,172 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ocular Therapeutix by 757.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,044 shares of the biopharmaceutical company’s stock valued at $219,000 after acquiring an additional 28,309 shares in the last quarter. Atlas Capital Advisors LLC acquired a new position in Ocular Therapeutix during the 2nd quarter valued at about $34,000. Finally, Aptus Capital Advisors LLC acquired a new position in Ocular Therapeutix during the 2nd quarter valued at about $1,798,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Company 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.