Ocular Therapeutix, Inc. $OCUL Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in Ocular Therapeutix, Inc. by 1.8%, selling 23,954 shares in the first quarter and owning a total of 1,290,917 shares valued at approximately $9.46 million.
• Ocular Therapeutix's recent earnings report showed a loss of ($0.39) EPS, which was below analysts' expectations, despite reporting revenues of $13.46 million that exceeded predictions.
• Analysts maintain a consensus target price of $17.20 for Ocular Therapeutix shares, with several firms giving buy ratings and adjusting their price targets upwards.

Northern Trust Corp trimmed its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,290,917 shares of the biopharmaceutical company's stock after selling 23,954 shares during the quarter. Northern Trust Corp owned 0.81% of Ocular Therapeutix worth $9,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. acquired a new stake in shares of Ocular Therapeutix during the 1st quarter worth about $79,000. GAMMA Investing LLC increased its position in shares of Ocular Therapeutix by 6,760.0% during the 1st quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after purchasing an additional 8,112 shares during the last quarter. Rhumbline Advisers increased its position in shares of Ocular Therapeutix by 4.5% during the 1st quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company's stock worth $1,635,000 after purchasing an additional 9,514 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Ocular Therapeutix by 32.8% during the 4th quarter. ProShare Advisors LLC now owns 51,270 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 12,669 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Ocular Therapeutix by 82.9% during the 4th quarter. Ameriprise Financial Inc. now owns 89,772 shares of the biopharmaceutical company's stock valued at $767,000 after acquiring an additional 40,700 shares during the period. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Down 2.1%

Shares of OCUL traded down $0.28 during midday trading on Thursday, hitting $12.77. The company had a trading volume of 1,246,193 shares, compared to its average volume of 2,136,922. The company's 50-day simple moving average is $11.96 and its 200-day simple moving average is $9.19. 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 firm has a market capitalization of $2.22 billion, a P/E ratio of -9.98 and a beta of 1.50. Ocular Therapeutix, Inc. has a 1 year low of $5.78 and a 1 year high of $13.85.

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

Analyst Ratings Changes

A number of equities analysts recently commented on OCUL shares. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Thursday, May 29th. Scotiabank lowered their target price on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a report on Wednesday, August 6th. Finally, Needham & Company LLC raised their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.20.

Insider Activity

In other news, insider Jeffrey S. Heier sold 3,063 shares of Ocular Therapeutix stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,878.52. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Kaiser sold 3,011 shares of Ocular Therapeutix stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $36,252.44. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 30,519 shares of company stock worth $367,865. 2.30% of the stock is currently 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.