Dimensional Fund Advisors LP bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 649,756 shares of the biopharmaceutical company's stock, valued at approximately $5,491,000. Dimensional Fund Advisors LP owned 0.30% 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 made changes to their positions in the stock. Summer Road LLC increased its holdings in shares of Ocular Therapeutix by 6.9% in the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company's stock valued at $100,622,000 after purchasing an additional 771,270 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company's stock worth $140,523,000 after purchasing an additional 2,411,953 shares during the period. Avoro Capital Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 5.1% during the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company's stock worth $130,842,000 after purchasing an additional 527,777 shares during the period. TCG Crossover Management LLC grew its position in Ocular Therapeutix by 15.0% in the 3rd quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company's stock valued at $71,510,000 after buying an additional 798,084 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Ocular Therapeutix by 15.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company's stock valued at $56,148,000 after buying an additional 620,700 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company's stock.
Insider Buying and Selling at Ocular Therapeutix
In related news, insider Pravin Dugel sold 21,156 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value 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 trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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. In the last 90 days, insiders sold 28,999 shares of company stock valued at $237,792. Corporate insiders own 3.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on OCUL shares. Chardan Capital restated a "buy" rating and set a $23.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, August 4th. Robert W. Baird lifted their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Zacks Research lowered shares of Ocular Therapeutix from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.
Check Out Our Latest Analysis on OCUL
Ocular Therapeutix Stock Performance
Shares of OCUL opened at $9.76 on Wednesday. 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, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The company has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $9.07. The company has a market capitalization of $2.14 billion, a PE ratio of -6.87 and a beta of 0.93.
Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The firm's revenue was down .1% on a year-over-year basis. Equities research analysts predict that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.
Ocular Therapeutix Profile
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Free Report)
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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