Vanguard Group Inc. Sells 119,398 Shares of Ocular Therapeutix, Inc. $OCUL

Key Points

• Vanguard Group Inc. reduced its holdings in Ocular Therapeutix by 1.4%, owning approximately 8.36 million shares, valued at around $61.31 million.
• Ocular Therapeutix stock rose by 3.8% to $12.32, with a market cap of $2.14 billion, after experiencing a 1-year range of $5.78 to $12.91.
• Despite an earnings miss with a reported EPS of ($0.39), analysts maintain a consensus "Buy" rating for the stock, with a price target averaging $17.20.

Vanguard Group Inc. lessened its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,364,515 shares of the biopharmaceutical company's stock after selling 119,398 shares during the period. Vanguard Group Inc. owned approximately 5.25% of Ocular Therapeutix worth $61,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. increased its stake in Ocular Therapeutix by 21.8% in the first quarter. Banco Santander S.A. now owns 184,048 shares of the biopharmaceutical company's stock valued at $1,349,000 after acquiring an additional 32,941 shares during the last quarter. XTX Topco Ltd increased its stake in Ocular Therapeutix by 95.0% in the first quarter. XTX Topco Ltd now owns 22,605 shares of the biopharmaceutical company's stock valued at $166,000 after acquiring an additional 11,012 shares during the last quarter. Graypoint LLC bought a new position in Ocular Therapeutix in the first quarter valued at $148,000. Vontobel Holding Ltd. bought a new position in Ocular Therapeutix during the first quarter valued at approximately $79,000. Finally, Peregrine Capital Management LLC bought a new position in shares of Ocular Therapeutix during the first quarter valued at about $6,212,000. Institutional investors own 59.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC raised their price objective on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Finally, Scotiabank reduced their price target on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $17.20.

Insider Buying and Selling

In related news, insider Peter Kaiser sold 3,011 shares of the company's 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 transaction, the insider owned 204,093 shares in the company, valued at $2,457,279.72. The trade was a 1.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey S. Heier sold 3,063 shares of the company's stock in a transaction dated 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 transaction, the insider owned 259,911 shares in the company, valued at approximately $3,129,328.44. The trade was a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,453 shares of company stock worth $354,614 in the last three months. 2.30% of the stock is owned by corporate insiders.

Ocular Therapeutix Trading Down 2.5%

Shares of OCUL traded down $0.31 during trading hours on Friday, reaching $12.21. 2,070,425 shares of the company traded hands, compared to its average volume of 2,053,955. The company's fifty day moving average price is $11.30 and its two-hundred day moving average price is $8.85. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -9.54 and a beta of 1.49. 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 12 month low of $5.78 and a 12 month high of $12.91.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its 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). The company had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The company's revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.26) EPS. Equities research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

About Ocular Therapeutix

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.