Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $70,429.50 in Stock

Key Points

• Insider sale: Peter Kaiser sold 9,990 Ocular Therapeutix shares for $70,429.50 under a pre-arranged Rule 10b5-1 plan to cover tax obligations, reducing his position by 3.78%.
• Stock performance and financials: OCUL rose 1.2% to $7.34, with a $1.61 billion market capitalization. The company reported quarterly revenue of $13.47 million and an adjusted loss of $0.35 per share, beating analyst expectations.
• Analyst outlook: Ocular Therapeutix has a “Moderate Buy” consensus rating from analysts, with an average price target of $24.33 compared with the current share price.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Peter Kaiser sold 9,990 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $7.05, for a total transaction of $70,429.50. Following the completion of the sale, the insider owned 254,388 shares of the company's stock, valued at approximately $1,793,435.40. The trade was a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

Peter Kaiser also recently made the following trade(s):

• On Monday, August 24th, Peter Kaiser sold 3,035 shares of Ocular Therapeutix stock. The stock was sold at an average price of $10.77, for a total transaction of $32,686.95.

Ocular Therapeutix Stock Up 1.2%

Shares of NASDAQ:OCUL traded up $0.09 during midday trading on Tuesday, hitting $7.34. 2,795,753 shares of the stock were exchanged, compared to its average volume of 4,000,442. The company has a market capitalization of $1.61 billion, a PE ratio of -5.17 and a beta of 1.00. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.03 and a current ratio of 13.10. The business's fifty day simple moving average is $9.78 and its two-hundred day simple moving average is $9.28.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OCUL. Needham & Company LLC restated a "buy" rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Chardan Capital reiterated a "buy" rating and issued a $23.00 target price on shares of Ocular Therapeutix in a research note on Friday. Wall Street Zen raised shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Ocular Therapeutix in a research note on Friday, July 17th. Finally, Robert W. Baird raised their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.33.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC acquired a new position in Ocular Therapeutix in the 4th quarter valued at $42,000. Integrated Wealth Concepts LLC acquired a new position in Ocular Therapeutix in the 2nd quarter valued at $51,000. Caitong International Asset Management Co. Ltd raised its holdings in Ocular Therapeutix by 420.0% in the 4th 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 during the period. Finally, Trust Co. of Vermont bought a new position in Ocular Therapeutix in the 2nd quarter worth $112,000. Institutional investors and hedge funds own 59.21% of the company's stock.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.

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