Readystate Asset Management LP Makes New Investment in Ocular Therapeutix, Inc. $OCUL

Key Points

• Readystate Asset Management purchased 883,621 shares of Ocular Therapeutix in the first quarter, valued at approximately $7.5 million and representing about 0.40% of the company. Institutional investors collectively own 59.21% of the stock.
• OCUL was trading at $8.45, below its 50-day and 200-day moving averages, with a 12-month range of $6.23 to $16.44. The company reported strong liquidity, including a quick ratio of 14.73 and minimal debt relative to equity.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock Buy versus two Sell ratings, producing a “Moderate Buy” consensus and an average price target of $25.11. Recent targets range from $18 to $30, while an insider sale was conducted under a pre-arranged plan to cover tax obligations.

Readystate Asset Management LP purchased a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 883,621 shares of the biopharmaceutical company's stock, valued at approximately $7,484,000. Readystate Asset Management LP owned about 0.40% of Ocular Therapeutix at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Ocular Therapeutix by 175.1% in the 1st quarter. Royal Bank of Canada now owns 26,554 shares of the biopharmaceutical company's stock worth $225,000 after purchasing an additional 16,902 shares in the last quarter. Rock Springs Capital Management LP boosted its holdings in Ocular Therapeutix by 11.0% during the first quarter. Rock Springs Capital Management LP now owns 383,716 shares of the biopharmaceutical company's stock worth $3,250,000 after buying an additional 37,896 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Ocular Therapeutix by 145.9% in the first quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company's stock worth $1,930,000 after buying an additional 135,160 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Ocular Therapeutix in the first quarter worth approximately $98,000. Finally, Commodore Capital LP bought a new position in shares of Ocular Therapeutix in the first quarter valued at $21,810,000. Institutional investors own 59.21% of the company's stock.

Ocular Therapeutix Price Performance

OCUL opened at $8.45 on Wednesday. The firm has a market capitalization of $1.85 billion, a P/E ratio of -5.79 and a beta of 0.88. The stock has a fifty day moving average of $9.14 and a 200-day moving average of $9.24. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OCUL. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Robert W. Baird upped their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.11.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the sale, the insider directly owned 2,597,170 shares of the company's stock, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is currently owned by corporate insiders.

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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