Commodore Capital LP Acquires New Shares in Ocular Therapeutix, Inc. $OCUL

Key Points

• Commodore Capital LP acquired 2.575 million Ocular Therapeutix shares worth approximately $21.81 million, representing a 1.18% stake and becoming the fund’s 24th-largest holding.
• Institutional investors own 59.21% of Ocular Therapeutix, while insider Pravin Dugel sold 21,156 shares for about $173,479 under a pre-arranged plan to cover tax obligations.
• Analysts remain broadly bullish: 12 rate the stock a Buy and two rate it a Sell, producing a “Moderate Buy” consensus and an average price target of $25.11 versus the reported share price of $8.51.

Commodore Capital LP bought a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,575,000 shares of the biopharmaceutical company's stock, valued at approximately $21,810,000. Ocular Therapeutix accounts for about 1.3% of Commodore Capital LP's holdings, making the stock its 24th biggest position. Commodore Capital LP owned 1.18% of Ocular Therapeutix as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its stake in shares of Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Ocular Therapeutix during the 4th quarter worth approximately $31,000. Hilton Head Capital Partners LLC boosted its stake in Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 1,053 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix during the fourth quarter valued at approximately $61,000. Finally, KBC Group NV acquired a new position in Ocular Therapeutix during the fourth quarter valued at approximately $78,000. Institutional investors own 59.21% of the company's stock.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares of the company's stock, valued at $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Insiders sold 28,999 shares of company stock worth $237,792 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Ocular Therapeutix Price Performance

OCUL stock opened at $8.51 on Monday. The stock has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $9.28. The stock has a market cap of $1.86 billion, a PE ratio of -5.83 and a beta of 0.88. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OCUL shares. Robert W. Baird increased their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Chardan Capital boosted their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Royal Bank Of Canada restated an "outperform" rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Finally, HC Wainwright reiterated 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. Twelve analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.11.

Ocular Therapeutix Company 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.

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