Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 3,035 Shares of Stock

Key Points

• Ocular Therapeutix insider Peter Kaiser sold 3,035 shares at an average price of $10.77, generating $32,686.95. The Rule 10b5-1 transaction was intended to cover tax withholding on vested equity awards, leaving him with 264,378 shares.
• OCUL shares fell 1.0% to $10.77, while the company reported a quarterly loss of $0.35 per share—better than the $0.40 consensus estimate—and revenue of $13.47 million.
• Analysts maintain a consensus “Moderate Buy” rating with a $25.75 target price, substantially above the current share price. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Peter Kaiser sold 3,035 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $10.77, for a total transaction of $32,686.95. Following the sale, the insider owned 264,378 shares in the company, valued at $2,847,351.06. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.

Ocular Therapeutix Stock Down 1.0%

Shares of OCUL stock traded down $0.11 on Wednesday, hitting $10.77. The stock had a trading volume of 1,364,367 shares, compared to its average volume of 4,141,407. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.58 and a beta of 0.93. The stock's 50 day moving average is $9.61 and its 200-day moving average is $9.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, research analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

Several institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its stake in Ocular Therapeutix by 124.2% in 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 period. Rockefeller Capital Management L.P. acquired a new stake in Ocular Therapeutix in the fourth quarter worth about $31,000. Hilton Head Capital Partners LLC raised its position in shares of Ocular Therapeutix by 30.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 1,053 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix during the fourth quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Ocular Therapeutix by 420.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company's stock worth $78,000 after purchasing an additional 5,179 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.

Analysts Set New Price Targets

OCUL has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Royal Bank Of Canada restated an "outperform" rating and set a $30.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Zacks Research upgraded Ocular Therapeutix from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Chardan Capital reaffirmed a "buy" rating and issued a $23.00 price target on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

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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