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

Balyasny Asset Management L.P. bought a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 97,553 shares of the biopharmaceutical company's stock, valued at approximately $833,000. Balyasny Asset Management L.P. owned about 0.06% of Ocular Therapeutix as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

OCUL has been the subject of several research analyst reports. William Blair initiated coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a 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. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, Needham & Company LLC lowered their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.25.

Insider Transactions at Ocular Therapeutix

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

Ocular Therapeutix Stock Performance

Shares of OCUL traded down $0.17 during mid-day trading on Tuesday, hitting $7.34. 102,178 shares of the company's stock were exchanged, compared to its average volume of 1,412,709. Ocular Therapeutix, Inc. has a 52 week low of $4.79 and a 52 week high of $11.77. The stock's 50-day simple moving average is $7.39 and its 200-day simple moving average is $8.10. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -5.56 and a beta of 1.51. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $16.89 million. On average, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current 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.