Bank of America Corp DE Sells 204,268 Shares of Ocular Therapeutix, Inc. $OCUL

Bank of America Corp DE trimmed its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 34.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,092 shares of the biopharmaceutical company's stock after selling 204,268 shares during the quarter. Bank of America Corp DE owned approximately 0.18% of Ocular Therapeutix worth $3,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of OCUL. Steward Partners Investment Advisory LLC grew its holdings in Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Ocular Therapeutix during the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC bought a new stake in Ocular Therapeutix during the 4th quarter worth approximately $42,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Ocular Therapeutix in the fourth quarter worth $61,000. Finally, State of Wyoming purchased a new position in Ocular Therapeutix during the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Stock Performance

Shares of OCUL stock opened at $10.36 on Monday. The stock has a fifty day moving average of $9.68 and a 200 day moving average of $9.16. Ocular Therapeutix, Inc. has a 52 week low of $6.23 and a 52 week high of $16.44. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The firm had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.20 million. During the same quarter in the prior year, the company earned ($0.39) EPS. The business's revenue was down .1% compared to the same quarter last year. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 3,296 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.78, for a total transaction of $35,530.88. Following the completion of the sale, the insider directly owned 318,326 shares in the company, valued at $3,431,554.28. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Peter Kaiser sold 3,035 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the sale, the insider directly owned 264,378 shares of the company's stock, valued at approximately $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 29,877 shares of company stock worth $321,827. Insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OCUL shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Chardan Capital reaffirmed a "buy" rating and set a $23.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, August 4th. Robert W. Baird upped their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Ocular Therapeutix Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source