Bank of America Corp DE Trims Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Bank of America Corp DE lessened its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,071 shares of the biopharmaceutical company's stock after selling 341,400 shares during the period. Bank of America Corp DE owned approximately 0.28% of Ocular Therapeutix worth $3,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MetLife Investment Management LLC grew its position in Ocular Therapeutix by 2.7% in the fourth quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock worth $792,000 after acquiring an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Ocular Therapeutix by 10.0% during the fourth quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock worth $237,000 after purchasing an additional 2,526 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock worth $285,000 after purchasing an additional 3,347 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Ocular Therapeutix by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company's stock worth $3,991,000 after purchasing an additional 4,488 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Ocular Therapeutix by 19.3% during the 4th quarter. Sei Investments Co. now owns 27,742 shares of the biopharmaceutical company's stock valued at $237,000 after buying an additional 4,496 shares in the last quarter. Hedge funds and other institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Stock Down 1.6%

Ocular Therapeutix stock traded down $0.13 during trading hours on Friday, hitting $8.01. 2,177,691 shares of the stock traded hands, compared to its average volume of 1,399,863. The firm's 50-day moving average price is $7.37 and its two-hundred day moving average price is $7.91. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.28 billion, a PE ratio of -6.07 and a beta of 1.51. 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 analysts' consensus estimates of ($0.24) by ($0.05). The firm had revenue of $17.08 million during the quarter, compared to analysts' expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.96 per share, with a total value of $69,600.00. Following the acquisition, the director now owns 172,704 shares in the company, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pravin Dugel sold 21,219 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $7.18, for a total transaction of $152,352.42. Following the transaction, the insider now directly owns 3,499,099 shares of the company's stock, 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 have sold 29,079 shares of company stock worth $208,739 in the last three months. Company insiders own 2.30% of the company's stock.

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.