Polar Asset Management Partners Inc. Lowers Stock Position in Ocular Therapeutix, Inc. $OCUL

Key Points

• Polar Asset Management Partners Inc. significantly reduced its stake in Ocular Therapeutix, Inc. by 85.6%, selling 337,730 shares during the first quarter, leaving them with 56,670 shares valued at $415,000.
• Despite a recent stock price uptick of 7.1%, Ocular Therapeutix reported disappointing earnings, missing estimates with earnings per share of ($0.39) compared to a consensus of ($0.35).
• Several institutional investors have increased their positions in Ocular Therapeutix, with notable increases from Tower Research Capital (by 2,045%) and BNP Paribas Financial Markets (by 110.6%) during the fourth quarter.

Polar Asset Management Partners Inc. lessened its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 85.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,670 shares of the biopharmaceutical company's stock after selling 337,730 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Ocular Therapeutix were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Ocular Therapeutix in the fourth quarter worth $28,000. Brooklyn Investment Group raised its holdings in Ocular Therapeutix by 151.5% in the first 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 in the last quarter. GAMMA Investing LLC raised its holdings in Ocular Therapeutix by 6,760.0% in the first 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 8,446 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Ocular Therapeutix during the first quarter valued at $79,000. Institutional investors own 59.21% of the company's stock.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 3,063 shares of the firm's 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 transaction, the insider directly owned 259,911 shares of the company's stock, valued at approximately $3,129,328.44. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter Kaiser sold 3,011 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,252.44. Following the completion of the transaction, the insider directly owned 204,093 shares in the company, valued at $2,457,279.72. The trade was a 1.45% 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 valued at $367,865. Insiders own 2.30% of the company's stock.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL traded up $0.07 on Friday, hitting $12.84. The stock had a trading volume of 349,335 shares, compared to its average volume of 1,839,290. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -10.02 and a beta of 1.50. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $11.96 and its two-hundred day simple moving average is $9.19. 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 announced its earnings results 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 firm had revenue of $13.46 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business posted ($0.26) earnings per share. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Analysts Set New Price Targets

OCUL has been the subject of several analyst reports. Needham & Company LLC raised their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank lowered 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. Finally, HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.20.

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.