Ocular Therapeutix, Inc. $OCUL Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Ocular Therapeutix by 43.3%, selling 148,100 shares in the second quarter, leading to ownership of 193,700 shares valued at approximately $1.8 million.
• Insider sales occurred on August 25th, with Peter Kaiser and Jeffrey S. Heier selling a combined 6,074 shares at an average price of $12.04, reflecting a slight decrease in their respective ownership stakes.
• Ocular Therapeutix reported a negative EPS of ($0.39) for the latest quarter, missing estimates, and experienced a revenue drop of 17.7% year-over-year, with analysts projecting a further -0.98 EPS for the current year.

Assenagon Asset Management S.A. trimmed its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 43.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 193,700 shares of the biopharmaceutical company's stock after selling 148,100 shares during the quarter. Assenagon Asset Management S.A. owned about 0.12% of Ocular Therapeutix worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in shares of Ocular Therapeutix by 151.5% in the 1st 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after buying an additional 8,112 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Ocular Therapeutix during the first quarter valued at approximately $79,000. Hsbc Holdings PLC raised its holdings in shares of Ocular Therapeutix by 8.1% during the first quarter. Hsbc Holdings PLC now owns 19,573 shares of the biopharmaceutical company's stock valued at $141,000 after buying an additional 1,472 shares during the last quarter. Finally, Graypoint LLC acquired a new stake in Ocular Therapeutix in the first quarter worth approximately $148,000. Institutional investors own 59.21% of the company's stock.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,011 shares of the 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 directly owned 204,093 shares in the company, valued at approximately $2,457,279.72. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey S. Heier sold 3,063 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the completion of the sale, the insider owned 259,911 shares in the company, valued at approximately $3,129,328.44. This trade represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,519 shares of company stock worth $367,865. Company insiders own 2.30% of the company's stock.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $12.53 on Friday. The firm's 50 day moving average price is $12.33 and its two-hundred day moving average price is $9.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10. The stock has a market cap of $2.18 billion, a PE ratio of -9.79 and a beta of 1.50. 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 posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to analyst estimates 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 for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) earnings per share. As a group, analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

OCUL has been the topic of several recent analyst reports. Scotiabank cut their target price on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, August 6th. Chardan Capital began coverage on shares of Ocular Therapeutix in a report on Monday, September 15th. They issued a "buy" rating and a $21.00 price objective for the company. Finally, Needham & Company LLC upped their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $17.83.

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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