Palumbo Wealth Management LLC Invests $100,000 in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Palumbo Wealth Management LLC bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,693 shares of the biopharmaceutical company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ocular Therapeutix by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 1,015 shares in the last quarter. HighVista Strategies LLC increased its stake in shares of Ocular Therapeutix by 5.1% during the third quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock worth $566,000 after purchasing an additional 3,168 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 3,347 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Ocular Therapeutix by 2.7% during the fourth quarter. Rhumbline Advisers now owns 213,601 shares of the biopharmaceutical company’s stock worth $1,824,000 after purchasing an additional 5,682 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Ocular Therapeutix during the third quarter worth about $70,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Insider Activity

In other news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Donald Notman sold 6,301 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the completion of the sale, the insider now directly owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. This trade represents a 2.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,368 shares of company stock valued at $162,801 in the last 90 days. Company insiders own 3.50% of the company’s stock.

Ocular Therapeutix Stock Down 2.7 %

Shares of NASDAQ OCUL opened at $7.28 on Monday. Ocular Therapeutix, Inc. has a 12-month low of $4.06 and a 12-month high of $11.77. The stock has a market cap of $1.14 billion, a PE ratio of -5.52 and a beta of 1.22. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $8.27 and a 200 day moving average of $8.98.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.