Ocular Therapeutix (NASDAQ:OCUL) Stock: Insider Todd Anderman Sells 11,984 Shares

Key Points

• Insider sale: Todd Anderman sold 11,984 Ocular Therapeutix shares for approximately $87,363 under a pre-arranged Rule 10b5-1 plan to cover tax obligations, reducing his holdings by 7.86% to 140,484 shares.
• Stock performance: OCUL shares fell 4.2% to $7.24, well below their 50-day and 200-day moving averages, with a 52-week range of $6.23 to $16.44.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of $22.86, despite the company’s ongoing losses and negative margins. Institutional investors own 59.21% of the stock.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Todd Anderman sold 11,984 shares of the company's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $7.29, for a total transaction of $87,363.36. Following the sale, the insider directly owned 140,484 shares in the company, valued at $1,024,128.36. This trade represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Trading Down 4.2%

Shares of OCUL stock traded down $0.32 during mid-day trading on Tuesday, hitting $7.24. The company's stock had a trading volume of 3,214,263 shares, compared to its average volume of 3,981,883. The company has a market cap of $1.59 billion, a PE ratio of -5.10 and a beta of 1.00. 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 company's fifty day simple moving average is $9.68 and its 200-day simple moving average is $9.25. 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 earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping 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 business had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the company posted ($0.39) earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $31,000. Hilton Head Capital Partners LLC lifted its position in Ocular Therapeutix by 30.4% in 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 during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Ocular Therapeutix in the second quarter worth approximately $51,000. Quantinno Capital Management LP purchased a new stake in Ocular Therapeutix in the first quarter worth approximately $98,000. Finally, Trust Co. of Vermont purchased a new stake in Ocular Therapeutix in the second quarter worth approximately $112,000. 59.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OCUL has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an "outperform" rating on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of Ocular Therapeutix from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, September 29th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Ocular Therapeutix in a report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.86.

About Ocular Therapeutix

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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