Bank of America Corp DE Sells 341,400 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Bank of America Corp DE lowered its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 437,071 shares of the biopharmaceutical company's stock after selling 341,400 shares during the quarter. Bank of America Corp DE owned about 0.28% of Ocular Therapeutix worth $3,733,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in OCUL. Barclays PLC raised its stake in Ocular Therapeutix by 37.1% during the 3rd quarter. Barclays PLC now owns 511,522 shares of the biopharmaceutical company's stock worth $4,451,000 after buying an additional 138,441 shares during the period. SG Americas Securities LLC raised its stake in Ocular Therapeutix by 58.7% during the 4th quarter. SG Americas Securities LLC now owns 71,698 shares of the biopharmaceutical company's stock worth $612,000 after buying an additional 26,511 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Ocular Therapeutix by 11.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock worth $285,000 after buying an additional 3,347 shares during the period. Deltec Asset Management LLC raised its stake in Ocular Therapeutix by 0.6% during the 4th quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company's stock worth $22,344,000 after buying an additional 16,300 shares during the period. Finally, Rhumbline Advisers raised its stake in Ocular Therapeutix by 2.7% during the 4th quarter. Rhumbline Advisers now owns 213,601 shares of the biopharmaceutical company's stock worth $1,824,000 after buying an additional 5,682 shares during the period. Institutional investors and hedge funds own 59.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OCUL. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Needham & Company LLC dropped their price objective on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. William Blair started coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They issued an "outperform" rating on the stock. Finally, Royal Bank of Canada started coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.25.

Ocular Therapeutix Stock Up 2.7%

Shares of NASDAQ OCUL traded up $0.22 during mid-day trading on Tuesday, hitting $8.33. The company had a trading volume of 2,951,070 shares, compared to its average volume of 1,406,612. The company has a market capitalization of $1.33 billion, a PE ratio of -6.31 and a beta of 1.51. The firm has a 50-day simple moving average of $7.39 and a two-hundred day simple moving average of $7.89. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. Ocular Therapeutix, Inc. has a one year low of $4.79 and a one year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insider Activity

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom purchased 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the completion of the transaction, the director now owns 172,704 shares in the company, valued at approximately $1,202,019.84. This represents a 6.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Pravin Dugel sold 21,219 shares of the company'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 now owns 3,499,099 shares of the company's stock, valued at $25,123,530.82. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,079 shares of company stock worth $208,739 in the last quarter. Corporate insiders own 2.30% of the company's stock.

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.