Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its holdings in Ocular Therapeutix by 41.9%, owning 37,500 shares valued at $275,000 after selling 27,000 shares in the first quarter.
• Ocular Therapeutix shares opened at $11.92 with a market cap of $1.90 billion, and have a price-to-earnings ratio of -10.37.
• Analysts rate Ocular Therapeutix as a buy, with an average price target of $17.33, while HC Wainwright issued a price target of $15.00.

Allianz Asset Management GmbH trimmed its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,500 shares of the biopharmaceutical company's stock after selling 27,000 shares during the quarter. Allianz Asset Management GmbH's holdings in Ocular Therapeutix were worth $275,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Graypoint LLC acquired a new position in shares of Ocular Therapeutix during the 1st quarter worth $148,000. Vontobel Holding Ltd. purchased a new position in Ocular Therapeutix during the 1st quarter valued at about $79,000. Peregrine Capital Management LLC purchased a new position in Ocular Therapeutix during the 1st quarter valued at about $6,212,000. Deltec Asset Management LLC raised its position in Ocular Therapeutix by 3.8% during the first quarter. Deltec Asset Management LLC now owns 2,716,373 shares of the biopharmaceutical company's stock worth $19,911,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Ocular Therapeutix in the first quarter valued at approximately $2,505,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $11.92 on Monday. Ocular Therapeutix, Inc. has a 1 year low of $5.78 and a 1 year high of $12.35. The company's 50 day simple moving average is $9.71 and its 200 day simple moving average is $8.23. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -10.37 and a beta of 1.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 10.14 and a current ratio of 10.22.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. William Blair started coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Thursday, May 29th. Finally, Needham & Company LLC reduced their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $17.33.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom purchased 10,000 shares of Ocular Therapeutix stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $6.96 per share, with a total value of $69,600.00. Following the purchase, the director directly owned 172,704 shares in the company, valued at $1,202,019.84. This trade represents a 6.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pravin Dugel sold 21,219 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total value of $152,352.42. Following the sale, the insider owned 3,499,099 shares in the company, valued at $25,123,530.82. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,079 shares of company stock valued at $208,739 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

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.

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