Nantahala Capital Management LLC Lowers Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Nantahala Capital Management LLC trimmed its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 37.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 437,728 shares of the biopharmaceutical company's stock after selling 262,272 shares during the quarter. Nantahala Capital Management LLC owned about 0.28% of Ocular Therapeutix worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of OCUL. Atlas Capital Advisors Inc. acquired a new stake in shares of Ocular Therapeutix during the fourth quarter worth $43,000. AlphaQuest LLC purchased a new stake in shares of Ocular Therapeutix in the fourth quarter valued at about $53,000. Tower Research Capital LLC TRC increased its stake in shares of Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock worth $76,000 after acquiring an additional 8,446 shares during the period. Walleye Capital LLC purchased a new position in Ocular Therapeutix during the fourth quarter worth about $90,000. Finally, XTX Topco Ltd acquired a new stake in Ocular Therapeutix in the fourth quarter valued at about $99,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL traded up $0.27 on Friday, hitting $8.80. The company's stock had a trading volume of 1,558,376 shares, compared to its average volume of 1,449,511. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The stock has a 50 day moving average of $7.40 and a 200-day moving average of $8.43. Ocular Therapeutix, Inc. has a 12-month low of $4.79 and a 12-month high of $11.78. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.67 and a beta of 1.51.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). The company had revenue of $17.08 million during the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. As a group, research analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OCUL shares. Royal Bank of Canada assumed coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They set an "outperform" rating and a $17.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. Finally, William Blair assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.38.

Insiders Place Their Bets

In other news, insider Donald Notman sold 11,119 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares of the company's stock, valued at $1,510,797.64. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.