Allianz Asset Management GmbH Sells 27,000 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

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 cut its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 41.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,500 shares of the biopharmaceutical company's stock after selling 27,000 shares during the period. Allianz Asset Management GmbH's holdings in Ocular Therapeutix were worth $275,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Point72 Asset Management L.P. increased its position in Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after buying an additional 895,304 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in Ocular Therapeutix during the first quarter valued at about $6,212,000. Millennium Management LLC bought a new position in shares of Ocular Therapeutix during the fourth quarter valued at about $3,819,000. Assenagon Asset Management S.A. purchased a new position in shares of Ocular Therapeutix during the first quarter valued at about $2,505,000. Finally, Patient Square Capital LP lifted its holdings in shares of Ocular Therapeutix by 100.0% during the fourth quarter. Patient Square Capital LP now owns 470,919 shares of the biopharmaceutical company's stock valued at $4,022,000 after purchasing an additional 235,421 shares during the last quarter. Institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Trading Down 3.5%

Shares of Ocular Therapeutix stock traded down $0.44 during trading hours on Thursday, reaching $12.06. 1,490,090 shares of the company's stock were exchanged, compared to its average volume of 1,778,889. Ocular Therapeutix, Inc. has a 52-week low of $5.78 and a 52-week high of $12.65. The company has a fifty day moving average of $10.00 and a 200-day moving average of $8.32. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -9.45 and a beta of 1.49.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results 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 71.62%. The business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. During the same period in the previous year, the firm earned ($0.26) EPS. The firm's revenue was down 17.7% on a year-over-year basis. Sell-side analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,219 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 3,499,099 shares of the company's stock, valued at approximately $25,123,530.82. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 29,079 shares of company stock worth $208,739 over the last quarter. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on OCUL. Scotiabank reduced their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday. Needham & Company LLC upped their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Six research 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 $17.17.

Ocular Therapeutix 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.