Y Intercept Hong Kong Ltd Sells 340,632 Shares of Ocular Therapeutix, Inc. $OCUL

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Ocular Therapeutix by 86.2% in the first quarter, selling 340,632 shares and leaving it with 54,703 shares worth about $463,000.
• Analyst sentiment is mostly positive, with multiple firms reiterating buy/outperform ratings and consensus target price of $25.11; 12 analysts rate the stock a Buy, compared with one Hold and one Sell.
• Ocular Therapeutix shares last traded at $9.70, well below the average analyst target, and insiders have also been selling, including Pravin Dugel’s recent sale of 21,156 shares under a Rule 10b5-1 plan.

Y Intercept Hong Kong Ltd trimmed its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 86.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,703 shares of the biopharmaceutical company's stock after selling 340,632 shares during the period. Y Intercept Hong Kong Ltd's holdings in Ocular Therapeutix were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its position 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 acquiring an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Ocular Therapeutix in the 4th quarter valued at $31,000. Hilton Head Capital Partners LLC bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at $42,000. Atlas Capital Advisors Inc. bought a new position in shares of Ocular Therapeutix during the 4th quarter valued at $61,000. Finally, State of Wyoming purchased a new position in Ocular Therapeutix in the 4th quarter worth $78,000. Institutional investors own 59.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird boosted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Royal Bank Of Canada reissued an "outperform" rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. HC Wainwright restated a "buy" rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $18.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.11.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $9.70 on Wednesday. The business has a 50 day moving average of $9.20 and a 200 day moving average of $9.46. Ocular Therapeutix, Inc. has a 52 week low of $6.23 and a 52 week high of $16.44. The company has a market cap of $2.12 billion, a PE ratio of -6.64 and a beta of 0.88. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. Over the last quarter, insiders have sold 28,999 shares of company stock worth $237,792. 3.10% of the stock is currently owned by insiders.

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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