Principal Financial Group Inc. Trims Stock Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Principal Financial Group Inc. trimmed its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,561 shares of the biopharmaceutical company’s stock after selling 11,803 shares during the quarter. Principal Financial Group Inc.’s holdings in Ocular Therapeutix were worth $127,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OCUL. Barclays PLC lifted its holdings in Ocular Therapeutix by 37.1% in the third quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company’s stock valued at $4,451,000 after acquiring an additional 138,441 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Ocular Therapeutix by 47.1% in the 3rd quarter. Wellington Management Group LLP now owns 462,864 shares of the biopharmaceutical company’s stock valued at $4,027,000 after purchasing an additional 148,310 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Ocular Therapeutix in the 3rd quarter valued at $4,288,000. Patient Square Capital LP purchased a new position in shares of Ocular Therapeutix during the 3rd quarter worth $2,049,000. Finally, HighVista Strategies LLC increased its position in shares of Ocular Therapeutix by 5.1% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Trading Up 2.3 %

NASDAQ OCUL opened at $9.08 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -6.88 and a beta of 1.23. The firm has a 50 day simple moving average of $9.39 and a 200-day simple moving average of $8.90. Ocular Therapeutix, Inc. has a one year low of $3.76 and a one year high of $11.77.

Insider Transactions at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction 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 transaction, the insider now directly owns 269,059 shares of the company’s stock, valued at $2,424,221.59. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OCUL. Scotiabank began coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

About Ocular Therapeutix

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.