Short Interest in Ocular Therapeutix, Inc. (NASDAQ:OCUL) Expands By 28.9%

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 11,810,000 shares, a growth of 28.9% from the March 15th total of 9,160,000 shares. Based on an average trading volume of 2,050,000 shares, the days-to-cover ratio is presently 5.8 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America initiated coverage on Ocular Therapeutix in a research report on Friday, February 9th. They issued a "buy" rating and a $15.00 price target for the company. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, February 14th. Piper Sandler increased their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Monday, February 26th. Finally, StockNews.com cut Ocular Therapeutix from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and an average target price of $16.80.

Ocular Therapeutix Trading Down 2.4 %

NASDAQ:OCUL traded down $0.19 during trading hours on Monday, reaching $7.80. 1,494,201 shares of the stock were exchanged, compared to its average volume of 1,986,333. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.24 and a beta of 1.31. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. Ocular Therapeutix has a twelve month low of $2.00 and a twelve month high of $11.31. The business has a 50-day moving average of $8.63 and a two-hundred day moving average of $5.25.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). The business had revenue of $14.80 million for the quarter, compared to analysts' expectations of $15.31 million. Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. On average, equities analysts predict that Ocular Therapeutix will post -0.68 EPS for the current year.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total transaction of $38,431.80. Following the completion of the transaction, the insider now owns 92,767 shares of the company's stock, valued at $459,196.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Summer Road Llc purchased 930,851 shares of the company's stock in a transaction dated Monday, February 26th. The stock was acquired at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now directly owns 8,591,401 shares of the company's stock, valued at $64,607,335.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rabia Gurses Ozden sold 7,764 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the sale, the insider now owns 92,767 shares of the company's stock, valued at $459,196.65. The disclosure for this sale can be found here. Insiders sold 39,366 shares of company stock valued at $194,862 over the last quarter. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Ocular Therapeutix

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Ocular Therapeutix by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 5,118,102 shares of the biopharmaceutical company's stock valued at $22,827,000 after acquiring an additional 1,057,123 shares in the last quarter. Trust Co. of Vermont raised its stake in Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ocular Therapeutix in the fourth quarter valued at $277,000. Price T Rowe Associates Inc. MD raised its stake in Ocular Therapeutix by 31.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,344 shares of the biopharmaceutical company's stock valued at $238,000 after buying an additional 12,859 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Ocular Therapeutix by 5.7% in the fourth quarter. GSA Capital Partners LLP now owns 246,903 shares of the biopharmaceutical company's stock valued at $1,101,000 after buying an additional 13,321 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.