Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 387,248 shares of the biopharmaceutical company’s stock after selling 56,429 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Ocular Therapeutix were worth $3,307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $53,000. Capital Performance Advisors LLP purchased a new position in Ocular Therapeutix in the third quarter valued at about $70,000. Palumbo Wealth Management LLC purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $100,000. Aigen Investment Management LP purchased a new position in Ocular Therapeutix in the fourth quarter valued at about $159,000. Finally, Creative Planning purchased a new position in Ocular Therapeutix in the third quarter valued at about $182,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares of the company’s stock, valued at $1,603,773.92. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is currently owned by insiders.

Ocular Therapeutix Stock Up 2.7 %

Shares of NASDAQ OCUL opened at $7.54 on Friday. Ocular Therapeutix, Inc. has a 1 year low of $4.06 and a 1 year high of $11.78. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -5.71 and a beta of 1.34. 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 stock’s 50-day simple moving average is $7.74 and its 200-day simple moving average is $8.86.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. As a group, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

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.