Voya Investment Management LLC Has $2.47 Million Stake in Ocular Therapeutix, Inc. $OCUL

Key Points

• Voya Investment Management LLC decreased its stake in Ocular Therapeutix by 9.4%, selling 34,719 shares and retaining 336,516 shares, valued at approximately $2.47 million.
• Ocular Therapeutix reported a (0.39) earnings per share, which missed analysts' expectations, despite generating revenue of $13.46 million for the quarter.
• Analysts maintain a consensus rating of "Buy" for Ocular Therapeutix, with an average target price of $17.83, despite fluctuations in stock price following recent insider sales.

Voya Investment Management LLC reduced its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 9.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,516 shares of the biopharmaceutical company's stock after selling 34,719 shares during the quarter. Voya Investment Management LLC owned 0.21% of Ocular Therapeutix worth $2,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its position in Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock worth $38,116,000 after buying an additional 1,600,000 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new stake in shares of Ocular Therapeutix during the first quarter valued at $9,632,000. Peregrine Capital Management LLC purchased a new stake in shares of Ocular Therapeutix in the 1st quarter worth $6,212,000. Millennium Management LLC bought a new stake in Ocular Therapeutix during the 4th quarter valued at $3,819,000. Finally, Nuveen LLC bought a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $3,035,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

NASDAQ OCUL traded up $0.10 on Monday, reaching $12.20. The stock had a trading volume of 2,177,594 shares, compared to its average volume of 1,866,101. The business's 50-day moving average price is $12.22 and its 200 day moving average price is $9.46. The stock has a market cap of $2.12 billion, a P/E ratio of -9.53 and a beta of 1.50. Ocular Therapeutix, Inc. has a 12-month low of $5.78 and a 12-month high of $13.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.02 and a current ratio of 10.10.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.04). The business had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.12 million. Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The company's revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. As a group, equities analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,494 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $258,787.76. Following the transaction, the insider directly owned 3,227,244 shares of the company's stock, valued at approximately $38,856,017.76. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Kaiser sold 3,011 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $12.04, for a total value of $36,252.44. Following the completion of the sale, the insider directly owned 204,093 shares of the company's stock, valued at approximately $2,457,279.72. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,519 shares of company stock worth $367,865. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OCUL shares. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Scotiabank reduced their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Wednesday, August 6th. Chardan Capital started coverage on shares of Ocular Therapeutix in a research note on Monday, September 15th. They set a "buy" rating and a $21.00 target price on the stock. Finally, Needham & Company LLC raised their target price on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ocular Therapeutix currently has a consensus rating of "Buy" and a consensus target price of $17.83.

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.