Deutsche Bank AG Decreases Holdings in Ocular Therapeutix, Inc. $OCUL

Key Points

• Deutsche Bank AG has reduced its stake in Ocular Therapeutix by 43.4%, selling 197,895 shares and now holding approximately 0.16% of the company, valued at about $1.89 million.
• Ocular Therapeutix reported a loss of ($0.39) earnings per share for the most recent quarter, missing analyst expectations, with revenues of $13.46 million, down 17.7% year-over-year.
• Despite ongoing losses, analysts maintain a consensus rating of "Buy" for Ocular Therapeutix, with a recent price target increase from Needham & Company from $14.00 to $15.00.

Deutsche Bank AG trimmed its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 43.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,225 shares of the biopharmaceutical company's stock after selling 197,895 shares during the period. Deutsche Bank AG owned approximately 0.16% of Ocular Therapeutix worth $1,893,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vontobel Holding Ltd. bought a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $79,000. GAMMA Investing LLC boosted its holdings in shares of Ocular Therapeutix by 6,760.0% during the 1st quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after buying an additional 8,112 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ocular Therapeutix by 4.5% during the 1st quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock worth $1,635,000 after buying an additional 9,514 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Ocular Therapeutix by 32.8% during the 4th quarter. ProShare Advisors LLC now owns 51,270 shares of the biopharmaceutical company's stock worth $438,000 after buying an additional 12,669 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Ocular Therapeutix by 82.9% during the 4th quarter. Ameriprise Financial Inc. now owns 89,772 shares of the biopharmaceutical company's stock worth $767,000 after buying an additional 40,700 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 3,063 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 259,911 shares in the company, valued at approximately $3,129,328.44. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Kaiser sold 3,011 shares of the firm'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 $36,252.44. Following the transaction, the insider owned 204,093 shares in the company, valued at approximately $2,457,279.72. This trade represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,453 shares of company stock worth $354,614. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. HC Wainwright restated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a report on Thursday, May 29th. Scotiabank lowered their target price on 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. Finally, Needham & Company LLC upped their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ocular Therapeutix currently has a consensus rating of "Buy" and an average price target of $17.20.

Ocular Therapeutix Price Performance

NASDAQ:OCUL remained flat at $12.32 during trading hours on Wednesday. The company's stock had a trading volume of 1,987,752 shares, compared to its average volume of 2,014,819. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. The business's 50 day simple moving average is $11.13 and its 200-day simple moving average is $8.78. Ocular Therapeutix, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $12.91. The firm has a market cap of $2.14 billion, a P/E ratio of -9.63 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same quarter last 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, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

About Ocular Therapeutix

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.