Man Group plc Takes Position in Ocular Therapeutix, Inc. $OCUL

Key Points

• Man Group plc acquired 543,582 shares of Ocular Therapeutix in the second quarter, valued at approximately $5.34 million and representing 0.25% of the company. Institutional investors and hedge funds collectively own 59.21% of OCUL.
• Ocular Therapeutix reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, beating analyst estimates, though revenue declined slightly year over year and the company remains unprofitable.
• Analyst sentiment is broadly positive: 11 analysts rate OCUL a Buy, one rates it Hold, and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $25.75.

Man Group plc purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 543,582 shares of the biopharmaceutical company's stock, valued at approximately $5,338,000. Man Group plc owned 0.25% of Ocular Therapeutix at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in shares of Ocular Therapeutix during the first quarter valued at about $5,491,000. The Manufacturers Life Insurance Company raised its stake in shares of Ocular Therapeutix by 145.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company's stock valued at $1,930,000 after acquiring an additional 135,160 shares during the period. Empire Life Investments Inc. raised its stake in shares of Ocular Therapeutix by 115.0% in the 4th quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company's stock valued at $6,557,000 after acquiring an additional 288,853 shares during the period. Candriam S.C.A. lifted its holdings in shares of Ocular Therapeutix by 12.8% in the 1st quarter. Candriam S.C.A. now owns 949,216 shares of the biopharmaceutical company's stock worth $8,040,000 after acquiring an additional 107,614 shares during the last quarter. Finally, Octagon Capital Advisors LP boosted its position in shares of Ocular Therapeutix by 20.7% during the 1st quarter. Octagon Capital Advisors LP now owns 3,166,600 shares of the biopharmaceutical company's stock worth $26,821,000 after purchasing an additional 543,000 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $10.36 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. The firm has a 50 day simple moving average of $9.68 and a 200-day simple moving average of $9.16. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44.

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 for the quarter, topping the consensus estimate of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) EPS. Equities research analysts anticipate that Ocular Therapeutix, Inc. will post -1.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on OCUL shares. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Wall Street Zen raised Ocular Therapeutix from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 3,296 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the sale, the insider directly owned 318,326 shares in the company, valued at approximately $3,431,554.28. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Ocular Therapeutix stock in a transaction on Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $32,686.95. Following the completion of the transaction, the insider owned 264,378 shares of the company's stock, valued at approximately $2,847,351.06. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 a total of 29,877 shares of company stock worth $321,827 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

About Ocular Therapeutix

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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