Balyasny Asset Management L.P. Takes $833,000 Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Balyasny Asset Management L.P. acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 97,553 shares of the biopharmaceutical company's stock, valued at approximately $833,000. Balyasny Asset Management L.P. owned 0.06% of Ocular Therapeutix as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in OCUL. BNP Paribas Financial Markets grew its stake in shares of Ocular Therapeutix by 110.6% in the fourth quarter. BNP Paribas Financial Markets now owns 75,400 shares of the biopharmaceutical company's stock valued at $644,000 after buying an additional 39,599 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Ocular Therapeutix by 82.9% in the 4th quarter. Ameriprise Financial Inc. now owns 89,772 shares of the biopharmaceutical company's stock valued at $767,000 after buying an additional 40,700 shares during the period. Aptus Capital Advisors LLC raised its stake in Ocular Therapeutix by 29.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 339,750 shares of the biopharmaceutical company's stock valued at $2,901,000 after buying an additional 76,940 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $119,000. Finally, Northern Trust Corp raised its position in Ocular Therapeutix by 5.5% in the 4th quarter. Northern Trust Corp now owns 1,314,871 shares of the biopharmaceutical company's stock valued at $11,229,000 after purchasing an additional 68,174 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Trading Up 2.7%

Shares of OCUL stock traded up $0.20 during trading hours on Monday, reaching $7.42. 829,316 shares of the stock traded hands, compared to its average volume of 1,398,227. The business has a fifty day moving average price of $7.41 and a 200 day moving average price of $8.12. Ocular Therapeutix, Inc. has a 1-year low of $4.79 and a 1-year high of $11.78. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.18 billion, a PE ratio of -5.62 and a beta of 1.51.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Needham & Company LLC dropped their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. William Blair assumed coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They set an "outperform" rating on the stock. Finally, Royal Bank of Canada started coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.25.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom bought 10,000 shares of the stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the completion of the transaction, the director now directly owns 172,704 shares of the company's stock, valued at $1,202,019.84. This represents a 6.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company 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.