Ocular Therapeutix, Inc. $OCUL Shares Purchased by Second Line Capital LLC

Key Points

• Second Line Capital increased its Ocular Therapeutix stake by 20.9% in the second quarter, acquiring 110,350 shares for a total holding of 638,640 shares valued at approximately $6.27 million. Institutional investors collectively own 59.21% of the company.
• Ocular Therapeutix reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, beating analyst estimates, although revenue declined slightly year over year and the company remains unprofitable.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $25.75 versus the stock’s opening price of $10.64. Recent insider sales were conducted under Rule 10b5-1 plans to cover tax obligations.

Second Line Capital LLC raised its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 638,640 shares of the biopharmaceutical company's stock after acquiring an additional 110,350 shares during the quarter. Ocular Therapeutix makes up 1.1% of Second Line Capital LLC's investment portfolio, making the stock its 18th largest position. Second Line Capital LLC owned approximately 0.29% of Ocular Therapeutix worth $6,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 1,242 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $31,000. Hilton Head Capital Partners LLC purchased a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $42,000. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix during the 4th quarter valued at $61,000. Finally, State of Wyoming acquired a new stake in Ocular Therapeutix during the 4th quarter valued at $78,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95. Following the completion of the sale, the insider directly owned 264,378 shares in the company, valued at $2,847,351.06. This represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey S. Heier sold 3,296 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the completion of the transaction, the insider owned 318,326 shares in the company, valued at approximately $3,431,554.28. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 29,877 shares of company stock valued at $321,827. 3.10% of the stock is currently owned by company insiders.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $10.64 on Tuesday. The company has a market cap of $2.34 billion, a P/E ratio of -7.49 and a beta of 0.97. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.10 and a quick ratio of 13.03. The company has a 50-day moving average of $9.77 and a 200-day moving average of $9.25.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. Ocular Therapeutix's revenue was down .1% compared to the same quarter last year. As a group, equities analysts predict that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research upgraded Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Chardan Capital restated a "buy" rating and issued a $23.00 target price on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Wall Street Zen raised shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Ocular Therapeutix 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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