Second Line Capital LLC Boosts Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Second Line Capital LLC increased its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 340,098 shares of the biopharmaceutical company's stock after acquiring an additional 77,288 shares during the quarter. Second Line Capital LLC owned about 0.22% of Ocular Therapeutix worth $2,904,000 as of its most recent filing with the SEC.

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

Insider Activity at Ocular Therapeutix

In related news, Director Richard L. Md Lindstrom bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the purchase, the director now directly owns 172,704 shares of the company's stock, valued at $1,202,019.84. This trade represents a 6.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Ocular Therapeutix Stock Up 1.2%

Shares of Ocular Therapeutix stock traded up $0.09 during trading on Tuesday, reaching $7.60. The company's stock had a trading volume of 1,201,407 shares, compared to its average volume of 1,398,239. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -5.76 and a beta of 1.51. Ocular Therapeutix, Inc. has a 1-year low of $4.79 and a 1-year high of $11.78. The company has a 50-day simple moving average of $7.38 and a two-hundred day simple moving average of $8.09.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on OCUL. Needham & Company LLC reduced their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair initiated coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating for the company. JMP Securities set a $19.00 price target on Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.25.

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.