Renaissance Technologies LLC Purchases 356,782 Shares of Ocular Therapeutix, Inc. $OCUL

Key Points

• Renaissance Technologies increased its Ocular Therapeutix stake by 45.1% in the first quarter, purchasing 356,782 additional shares to reach 1.15 million shares valued at approximately $9.7 million.
• Institutional investors own 59.21% of OCUL, while analysts maintain a generally positive outlook: 12 analysts rate it Buy and two rate it Sell, with a consensus price target of $25.11.
• OCUL opened at $8.17, well below its 12-month high of $16.44. Insider Pravin Dugel sold shares worth $173,479 under a pre-arranged plan to cover tax obligations.

Renaissance Technologies LLC boosted its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,147,982 shares of the biopharmaceutical company's stock after purchasing an additional 356,782 shares during the period. Renaissance Technologies LLC owned about 0.52% of Ocular Therapeutix worth $9,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,242 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Ocular Therapeutix during the fourth quarter valued at about $31,000. Hilton Head Capital Partners LLC lifted its stake in Ocular Therapeutix by 30.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,053 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $61,000. Finally, KBC Group NV bought a new position in shares of Ocular Therapeutix in the fourth quarter worth $78,000. 59.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OCUL. HC Wainwright restated a "buy" rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Chardan Capital lifted their price target on Ocular Therapeutix from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Robert W. Baird lifted their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Finally, Zacks Research cut shares of Ocular Therapeutix from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of "Moderate Buy" and a consensus price target of $25.11.

Ocular Therapeutix Price Performance

OCUL opened at $8.17 on Monday. The stock has a 50-day moving average price of $9.15 and a 200-day moving average price of $9.18. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.79 billion, a P/E ratio of -5.60 and a beta of 0.93.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,156 shares of the business's stock in a transaction that occurred on 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 owned 2,597,170 shares in the company, valued at $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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. In the last ninety days, insiders sold 28,999 shares of company stock valued at $237,792. Insiders own 3.10% of the company's stock.

About Ocular Therapeutix

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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