Ocular Therapeutix, Inc. $OCUL Shares Acquired by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Ocular Therapeutix by 100% during Q2, acquiring an additional 50,000 shares to total 100,000 shares valued at approximately $928,000.
• Ocular Therapeutix reported a net loss in its most recent earnings, with an earnings per share of ($0.39) which missed analysts' expectations, alongside a 17.7% drop in revenue compared to the previous year.
• Analysts have set a diverse range of price targets for Ocular Therapeutix, with estimates ranging from $20.00 to $31.00, reflecting varying perspectives on the company's market potential.

Truist Financial Corp lifted its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 100.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,000 shares of the biopharmaceutical company's stock after buying an additional 50,000 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Ocular Therapeutix worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its holdings in Ocular Therapeutix by 8.1% in the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock valued at $141,000 after purchasing an additional 1,472 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Ocular Therapeutix by 151.5% during the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 3,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ocular Therapeutix by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock worth $686,000 after purchasing an additional 5,156 shares during the period. Second Line Capital LLC lifted its holdings in shares of Ocular Therapeutix by 1.8% during the first quarter. Second Line Capital LLC now owns 346,098 shares of the biopharmaceutical company's stock worth $2,537,000 after purchasing an additional 6,000 shares during the period. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 1.9% during the first quarter. Aptus Capital Advisors LLC now owns 346,098 shares of the biopharmaceutical company's stock worth $2,537,000 after purchasing an additional 6,348 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Performance

Shares of OCUL opened at $11.85 on Tuesday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -9.26 and a beta of 1.45. The business's 50 day moving average is $12.27 and its two-hundred day moving average is $9.92. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. Ocular Therapeutix, Inc. has a 52-week low of $5.78 and a 52-week high of $13.85.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $13.12 million. During the same quarter last year, the firm posted ($0.26) earnings per share. Ocular Therapeutix's revenue was down 17.7% compared to the same quarter last year. Analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities increased their price objective on Ocular Therapeutix from $20.00 to $29.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Wednesday, October 8th. Chardan Capital reiterated a "buy" rating and set a $21.00 target price on shares of Ocular Therapeutix in a report on Thursday, October 2nd. Citigroup reiterated an "outperform" rating on shares of Ocular Therapeutix in a report on Wednesday, October 1st. Finally, Piper Sandler boosted their price target on Ocular Therapeutix from $21.00 to $31.00 and gave the stock an "overweight" rating in a research report on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.63.

Insider Buying and Selling

In related news, insider Pravin Dugel sold 21,494 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $258,787.76. Following the completion of the transaction, the insider owned 3,227,244 shares in the company, valued at $38,856,017.76. The trade was a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Kaiser sold 9,653 shares of Ocular Therapeutix stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total value of $106,472.59. Following the sale, the insider directly owned 194,440 shares in the company, valued at $2,144,673.20. The trade was a 4.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,806 shares of company stock worth $727,648. 2.30% of the stock is owned by company insiders.

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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