Jeffrey Heier Sells 3,296 Shares of Ocular Therapeutix (NASDAQ:OCUL) Stock

Key Points

• Insider sale: Jeffrey Heier sold 3,296 Ocular Therapeutix shares for approximately $35,531 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards. He retained 318,326 shares.
• Recent performance: OCUL traded around $10.77, with a market capitalization of approximately $2.37 billion. Ocular Therapeutix reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, exceeding analyst estimates.
• Analyst outlook: The stock carries a “Moderate Buy” consensus rating, with 11 Buy, one Hold, and one Sell rating. The average analyst price target is $25.75, substantially above the current share price.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Jeffrey Heier sold 3,296 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $10.78, for a total value of $35,530.88. Following the sale, the insider owned 318,326 shares in the company, valued at approximately $3,431,554.28. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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.

Ocular Therapeutix Trading Down 1.0%

OCUL stock traded down $0.11 during mid-day trading on Wednesday, reaching $10.77. 1,364,367 shares of the stock traded hands, compared to its average volume of 4,141,407. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The stock's fifty day moving average is $9.61 and its 200-day moving average is $9.13. The company has a market cap of $2.37 billion, a P/E ratio of -7.58 and a beta of 0.93. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14.

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

Institutional Trading of Ocular Therapeutix

Several hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Ocular Therapeutix by 124.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Ocular Therapeutix during the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC lifted its stake in Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 1,053 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Ocular Therapeutix by 420.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company's stock worth $78,000 after acquiring an additional 5,179 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on OCUL shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. HC Wainwright reissued a "buy" rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Royal Bank Of Canada reissued an "outperform" rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. Finally, Robert W. Baird upped their target price on Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Eleven 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. Based on data from MarketBeat.com, Ocular Therapeutix has an average rating of "Moderate Buy" and a consensus price target 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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