Acuta Capital Partners LLC Cuts Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Acuta Capital Partners LLC decreased its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,111,071 shares of the biopharmaceutical company's stock after selling 79,000 shares during the quarter. Ocular Therapeutix makes up 9.5% of Acuta Capital Partners LLC's portfolio, making the stock its biggest position. Acuta Capital Partners LLC owned 0.71% of Ocular Therapeutix worth $9,489,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OCUL. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at approximately $43,000. AlphaQuest LLC bought a new position in Ocular Therapeutix during the 4th quarter worth approximately $53,000. Tower Research Capital LLC TRC boosted its holdings in Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 8,446 shares during the period. Walleye Capital LLC acquired a new stake in shares of Ocular Therapeutix during the fourth quarter worth $90,000. Finally, XTX Topco Ltd bought a new position in shares of Ocular Therapeutix in the 4th quarter worth about $99,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Price Performance

Shares of NASDAQ:OCUL traded up $0.05 on Wednesday, reaching $7.23. 577,426 shares of the company traded hands, compared to its average volume of 1,427,382. The company's 50 day moving average is $7.42 and its 200-day moving average is $8.35. The stock has a market capitalization of $1.15 billion, a PE ratio of -5.47 and a beta of 1.51. Ocular Therapeutix, Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price on the stock. William Blair began coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Needham & Company LLC lowered their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.

Insider Buying and Selling

In other 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 transaction of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares in the company, valued at $24,184,584.66. The trade was a 0.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by corporate insiders.

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.