Ocular Therapeutix, Inc. $OCUL Shares Bought by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. more than doubled its stake in Ocular Therapeutix, increasing its holdings by 115% to 540,115 shares worth about $6.6 million.
• Institutional ownership remains high, with hedge funds and other investors holding 59.21% of the company; several firms also added to their positions during recent quarters.
• Insider activity was mixed: Director Richard L. Md Lindstrom bought 60,229 shares, while insider Pravin Dugel sold 20,056 shares, even as analysts maintained a generally positive view with a Moderate Buy consensus and an average price target of $23.78.

Empire Life Investments Inc. grew its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 115.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 540,115 shares of the biopharmaceutical company's stock after acquiring an additional 288,853 shares during the quarter. Empire Life Investments Inc. owned about 0.25% of Ocular Therapeutix worth $6,557,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Ocular Therapeutix by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company's stock valued at $674,000 after purchasing an additional 1,314 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Ocular Therapeutix by 24.3% during the 4th quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company's stock worth $109,000 after buying an additional 1,750 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Ocular Therapeutix by 9.9% during the 3rd quarter. Profund Advisors LLC now owns 25,178 shares of the biopharmaceutical company's stock worth $294,000 after buying an additional 2,272 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Ocular Therapeutix by 21.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company's stock valued at $124,000 after buying an additional 2,343 shares during the period. Finally, Creative Planning raised its position in shares of Ocular Therapeutix by 14.6% during the 3rd quarter. Creative Planning now owns 24,535 shares of the biopharmaceutical company's stock valued at $287,000 after buying an additional 3,125 shares during the period. Hedge funds and other institutional investors own 59.21% of the company's stock.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom bought 60,229 shares of Ocular Therapeutix stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $7.66 per share, for a total transaction of $461,354.14. Following the acquisition, the director directly owned 246,933 shares in the company, valued at $1,891,506.78. This represents a 32.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Pravin Dugel sold 20,056 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $166,063.68. Following the completion of the transaction, the insider directly owned 3,013,022 shares of the company's stock, valued at $24,947,822.16. This represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 185,731 shares of company stock valued at $1,653,407. 2.30% of the stock is owned by company insiders.

Ocular Therapeutix Trading Down 1.3%

Shares of NASDAQ OCUL opened at $9.16 on Wednesday. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.01 billion, a PE ratio of -6.27 and a beta of 0.93. Ocular Therapeutix, Inc. has a twelve month low of $6.23 and a twelve month high of $16.44. The stock has a fifty day simple moving average of $9.08 and a 200-day simple moving average of $10.46.

Analysts Set New Price Targets

Several brokerages recently weighed in on OCUL. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Wall Street Zen downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of Ocular Therapeutix in a research note on Monday, April 13th. Jefferies Financial Group reissued a "buy" rating on shares of Ocular Therapeutix in a research report on Tuesday, February 17th. Finally, Citigroup restated an "outperform" rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ocular Therapeutix presently has a consensus rating of "Moderate Buy" and an average target price of $23.78.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company's flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.

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