Cubist Systematic Strategies LLC Acquires New Shares in Ocular Therapeutix, Inc. $OCUL

Key Points

• Cubist Systematic Strategies LLC acquired 137,871 shares of Ocular Therapeutix, Inc. for approximately $1,011,000, representing 0.09% of the company.
• Insider Peter Kaiser sold 3,011 shares while Pravin Dugel sold 21,494 shares of Ocular Therapeutix, indicating a decrease in their ownership positions.
• Ocular Therapeutix's quarterly earnings showed a loss of ($0.39) EPS, missing estimates, with revenue of $13.46 million, reflecting a 17.7% decline year-over-year.

Cubist Systematic Strategies LLC acquired a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 137,871 shares of the biopharmaceutical company's stock, valued at approximately $1,011,000. Cubist Systematic Strategies LLC owned 0.09% of Ocular Therapeutix at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Paradigm Biocapital Advisors LP bought a new stake in Ocular Therapeutix during the first quarter valued at about $9,632,000. Second Line Capital LLC boosted its stake in Ocular Therapeutix by 1.8% during the 1st quarter. Second Line Capital LLC now owns 346,098 shares of the biopharmaceutical company's stock valued at $2,537,000 after purchasing an additional 6,000 shares during the period. EntryPoint Capital LLC acquired a new stake in Ocular Therapeutix in the 1st quarter valued at approximately $308,000. Hsbc Holdings PLC increased its position in Ocular Therapeutix by 8.1% in the 1st quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock worth $141,000 after buying an additional 1,472 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in Ocular Therapeutix by 1.9% in the 1st quarter. Aptus Capital Advisors LLC now owns 346,098 shares of the biopharmaceutical company's stock worth $2,537,000 after buying an additional 6,348 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OCUL shares. Needham & Company LLC increased their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Finally, Scotiabank decreased their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $17.20.

Ocular Therapeutix Stock Performance

OCUL traded up $0.04 during trading on Friday, reaching $12.81. 1,837,261 shares of the company's stock were exchanged, compared to its average volume of 2,125,164. The company has a market capitalization of $2.23 billion, a P/E ratio of -10.01 and a beta of 1.50. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average price of $12.03 and a 200 day moving average price of $9.25. Ocular Therapeutix, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the previous year, the business posted ($0.26) earnings per share. Ocular Therapeutix's revenue was down 17.7% on a year-over-year basis. As a group, analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 3,063 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the sale, the insider directly owned 259,911 shares of the company's stock, valued at approximately $3,129,328.44. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pravin Dugel sold 21,494 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $258,787.76. Following the completion of the sale, the insider owned 3,227,244 shares in the company, valued at $38,856,017.76. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,519 shares of company stock worth $367,865 over the last quarter. Company insiders own 2.30% of the company's stock.

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.