Voloridge Investment Management LLC Sells 83,499 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Voloridge Investment Management LLC reduced its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 71.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,483 shares of the biopharmaceutical company's stock after selling 83,499 shares during the quarter. Voloridge Investment Management LLC's holdings in Ocular Therapeutix were worth $286,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Deep Track Capital LP lifted its position in shares of Ocular Therapeutix by 0.9% during the 4th quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after acquiring an additional 114,822 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ocular Therapeutix by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock worth $72,453,000 after purchasing an additional 99,730 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Ocular Therapeutix by 43.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after purchasing an additional 895,304 shares during the last quarter. Deltec Asset Management LLC boosted its position in shares of Ocular Therapeutix by 0.6% in the 4th quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company's stock valued at $22,344,000 after purchasing an additional 16,300 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of Ocular Therapeutix by 26.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock valued at $11,398,000 after purchasing an additional 278,610 shares during the period. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Stock Down 1.6%

Ocular Therapeutix stock traded down $0.13 during trading hours on Friday, hitting $8.01. The company had a trading volume of 2,177,691 shares, compared to its average volume of 1,399,863. Ocular Therapeutix, Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.07 and a beta of 1.51. The firm's fifty day moving average is $7.37 and its 200-day moving average is $7.91.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. The company had revenue of $17.08 million for the quarter, compared to analysts' expectations of $16.89 million. On average, research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. William Blair initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating for the company. Needham & Company LLC cut their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Thursday. Finally, Royal Bank of Canada began coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ocular Therapeutix presently has an average rating of "Moderate Buy" and a consensus target price of $16.25.

Insiders Place Their Bets

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom purchased 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $6.96 per share, for a total transaction of $69,600.00. Following the purchase, the director now directly owns 172,704 shares in the company, valued at $1,202,019.84. This trade represents a 6.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the completion of the sale, the insider now owns 3,499,099 shares of the company's stock, valued at $25,123,530.82. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,079 shares of company stock valued at $208,739 in the last three months. Insiders own 2.30% of the company's stock.

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.