Ocular Therapeutix, Inc. $OCUL Stock Position Lessened by Deltec Asset Management LLC

Key Points

• Deltec Asset Management trimmed its stake in Ocular Therapeutix by 9.9%, selling 274,525 shares and retaining 2,487,934 shares (about 1.17% of the company) worth roughly $30.2 million, making OCUL its sixth-largest holding.
• Insiders and other institutions were net sellers recently—insiders sold 197,221 shares valued at about $1.75 million in the last quarter (insiders now own 2.30%), while overall institutional ownership stands at ~59.2%.
• Operational and market snapshot: Q4 revenue fell 22.4% to $13.25M with EPS of ($0.29) beating estimates by $0.04, the stock trades near $9.49 (52-week range $6.23–$16.44) and carries an average analyst price target of $23.78 (consensus: Moderate Buy).

Deltec Asset Management LLC cut its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,487,934 shares of the biopharmaceutical company's stock after selling 274,525 shares during the period. Ocular Therapeutix accounts for about 5.0% of Deltec Asset Management LLC's holdings, making the stock its 6th biggest position. Deltec Asset Management LLC owned approximately 1.17% of Ocular Therapeutix worth $30,204,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OCUL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ocular Therapeutix by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company's stock worth $686,000 after acquiring an additional 5,156 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Ocular Therapeutix during the first quarter worth $248,000. Creative Planning lifted its holdings in shares of Ocular Therapeutix by 21.5% during the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company's stock worth $199,000 after purchasing an additional 3,791 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company's stock worth $6,608,000 after purchasing an additional 374,269 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Ocular Therapeutix by 57.9% during the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company's stock worth $174,000 after purchasing an additional 6,855 shares during the period. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 3,057 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $8.28, for a total value of $25,311.96. Following the completion of the sale, the insider owned 323,368 shares of the company's stock, valued at approximately $2,677,487.04. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Nayak sold 10,348 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the sale, the insider directly owned 332,412 shares of the company's stock, valued at approximately $3,005,004.48. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 197,221 shares of company stock valued at $1,754,805 in the last quarter. Corporate insiders own 2.30% of the company's stock.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $9.49 on Monday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39. The business has a fifty day moving average of $8.85 and a two-hundred day moving average of $10.63. The company has a market cap of $2.07 billion, a P/E ratio of -6.59 and a beta of 0.95.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.04. Ocular Therapeutix had a negative return on equity of 70.68% and a negative net margin of 511.90%.The company had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. During the same quarter last year, the company earned ($0.29) earnings per share. Ocular Therapeutix's quarterly revenue was down 22.4% compared to the same quarter last year. As a group, analysts predict that Ocular Therapeutix, Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OCUL has been the subject of several recent research reports. Wall Street Zen downgraded Ocular Therapeutix from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Thursday, February 5th. Needham & Company LLC decreased their price target on Ocular Therapeutix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, February 20th. William Blair reaffirmed an "outperform" rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ocular Therapeutix currently has an average rating of "Moderate Buy" and an average price target 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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