Victory Capital Management Inc. Sells 52,721 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Key Points

• Victory Capital Management Inc. has significantly reduced its holdings in Ocular Therapeutix by selling 52,721 shares, amounting to a 76.6% decrease during the first quarter.
• Multiple institutional investors, including MetLife Investment Management and MIRAE ASSET GLOBAL ETFS HOLDINGS, have increased their stakes in Ocular Therapeutix, suggesting continued interest in the company.
• Analyst reports from Needham & Company and HC Wainwright maintain a "buy" rating for Ocular Therapeutix, with the stock having a consensus price target of $17.33.

Victory Capital Management Inc. lessened its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 76.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,150 shares of the biopharmaceutical company's stock after selling 52,721 shares during the period. Victory Capital Management Inc.'s holdings in Ocular Therapeutix were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC raised its stake in Ocular Therapeutix by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock valued at $792,000 after acquiring an additional 2,454 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ocular Therapeutix by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock worth $755,000 after purchasing an additional 2,853 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Ocular Therapeutix in the fourth quarter worth about $28,000. Cetera Investment Advisers raised its position in shares of Ocular Therapeutix by 0.6% in the fourth quarter. Cetera Investment Advisers now owns 723,840 shares of the biopharmaceutical company's stock valued at $6,182,000 after purchasing an additional 4,342 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Ocular Therapeutix by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company's stock valued at $3,991,000 after buying an additional 4,488 shares in the last quarter. Institutional investors own 59.21% of the company's stock.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several analyst reports. Needham & Company LLC cut their price objective on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Thursday, May 29th. Finally, William Blair initiated coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an "outperform" rating for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $17.33.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,219 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $152,352.42. Following the completion of the transaction, the insider directly owned 3,499,099 shares of the company's stock, valued at $25,123,530.82. This trade represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Md Lindstrom purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the acquisition, the director owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 29,079 shares of company stock worth $208,739 over the last quarter. Corporate insiders own 2.30% of the company's stock.

Ocular Therapeutix Price Performance

OCUL stock opened at $11.92 on Monday. The firm has a 50 day moving average of $9.71 and a 200-day moving average of $8.23. The firm has a market capitalization of $1.90 billion, a P/E ratio of -10.37 and a beta of 1.49. Ocular Therapeutix, Inc. has a 12 month low of $5.78 and a 12 month high of $12.35. The company has a current ratio of 10.22, a quick ratio of 10.14 and a debt-to-equity ratio of 0.26.

Ocular Therapeutix Company Profile

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.

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