Invesco Ltd. Sells 85,217 Shares of Ocular Therapeutix, Inc. $OCUL

Key Points

• Invesco Ltd. has reduced its holdings in Ocular Therapeutix by 9.6% in the first quarter, now owning approximately 804,829 shares worth $5.9 million.
• The stock price of Ocular Therapeutix increased by 3.8%, with a current market capitalization of $2.14 billion and a 52-week high of $12.91.
• Ocular Therapeutix reported a loss of $0.39 per share for the recent quarter, missing analysts' expectations, while quarterly revenue fell 17.7% year-over-year.

Invesco Ltd. cut its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 804,829 shares of the biopharmaceutical company's stock after selling 85,217 shares during the period. Invesco Ltd. owned 0.51% of Ocular Therapeutix worth $5,899,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Banco Santander S.A. grew its stake in shares of Ocular Therapeutix by 21.8% in the 1st quarter. Banco Santander S.A. now owns 184,048 shares of the biopharmaceutical company's stock valued at $1,349,000 after buying an additional 32,941 shares during the period. XTX Topco Ltd grew its stake in shares of Ocular Therapeutix by 95.0% in the 1st quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company's stock valued at $166,000 after buying an additional 11,012 shares during the period. Graypoint LLC acquired a new stake in shares of Ocular Therapeutix in the 1st quarter valued at about $148,000. Vontobel Holding Ltd. acquired a new stake in shares of Ocular Therapeutix in the 1st quarter valued at about $79,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Ocular Therapeutix in the 1st quarter valued at about $6,212,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Down 2.5%

OCUL stock traded down $0.31 during mid-day trading on Friday, reaching $12.21. 2,070,425 shares of the company traded hands, compared to its average volume of 2,053,955. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -9.54 and a beta of 1.49. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. Ocular Therapeutix, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $12.91. The firm's 50 day moving average price is $11.30 and its 200 day moving average price is $8.85.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the prior year, the business earned ($0.26) EPS. Ocular Therapeutix's quarterly revenue was down 17.7% compared to the same quarter last year. As a group, equities research analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,011 shares of the business's stock in a transaction on Monday, August 25th. The stock was 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 of the company's stock, valued at approximately $2,457,279.72. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey S. Heier sold 3,063 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,878.52. Following the completion of the transaction, the insider directly owned 259,911 shares in the company, valued at approximately $3,129,328.44. This represents a 1.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,453 shares of company stock valued at $354,614. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

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

Ocular Therapeutix Company 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.