Ocular Therapeutix, Inc. $OCUL Shares Acquired by Deltec Asset Management LLC

Key Points

• Deltec Asset Management LLC increased its stake in Ocular Therapeutix by 2.9%, now holding approximately 2,794,892 shares worth about $25.9 million, making it the fifth largest position in their portfolio.
• Ocular Therapeutix reported a loss of $0.39 EPS for the recent quarter, which missed analysts' expectations, although it achieved revenue of $13.46 million, exceeding the consensus estimate.
• Several analysts have set target prices for Ocular Therapeutix, with Needham & Company raising their price target to $15.00 and a consensus rating of "Buy" prevailing among six analysts.

Deltec Asset Management LLC increased its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,794,892 shares of the biopharmaceutical company's stock after purchasing an additional 78,519 shares during the quarter. Ocular Therapeutix makes up approximately 4.6% of Deltec Asset Management LLC's portfolio, making the stock its 5th largest position. Deltec Asset Management LLC owned about 1.75% of Ocular Therapeutix worth $25,937,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Trust Co. of Vermont boosted its holdings in shares of Ocular Therapeutix by 16.1% during the second quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 1,000 shares during the period. Truist Financial Corp lifted its stake in Ocular Therapeutix by 100.0% in the second quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company's stock valued at $928,000 after acquiring an additional 50,000 shares during the last quarter. Rhumbline Advisers lifted its stake in Ocular Therapeutix by 4.5% in the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock valued at $1,635,000 after acquiring an additional 9,514 shares during the last quarter. Caxton Associates LLP acquired a new stake in Ocular Therapeutix in the first quarter valued at approximately $248,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ocular Therapeutix by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock valued at $686,000 after acquiring an additional 5,156 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Trading Down 6.7%

Shares of OCUL stock opened at $11.69 on Wednesday. Ocular Therapeutix, Inc. has a 1 year low of $5.78 and a 1 year high of $13.85. The firm's fifty day simple moving average is $12.35 and its 200 day simple moving average is $9.66. The firm has a market capitalization of $2.03 billion, a P/E ratio of -9.13 and a beta of 1.50. The company has a current ratio of 10.10, a quick ratio of 10.02 and a debt-to-equity ratio of 0.23.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The company's revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.26) EPS. As a group, sell-side analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,011 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $36,252.44. Following the sale, the insider owned 204,093 shares of the company's stock, valued at $2,457,279.72. The trade was a 1.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey S. Heier sold 3,063 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $36,878.52. Following the completion of the sale, the insider directly owned 259,911 shares in the company, valued at $3,129,328.44. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,519 shares of company stock valued at $367,865 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC lifted their target price on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Scotiabank reduced their target price on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research note on Wednesday, August 6th. JMP Securities set a $29.00 target price on shares of Ocular Therapeutix in a research note on Wednesday. Finally, Chardan Capital started coverage on shares of Ocular Therapeutix in a research report on Monday, September 15th. They issued a "buy" rating and a $21.00 price target on the stock. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of "Buy" and a consensus price target of $19.50.

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.

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