Ocular Therapeutix (NASDAQ:OCUL) Insider Sells $106,472.59 in Stock

Key Points

• Ocular Therapeutix insider Peter Kaiser sold 9,653 shares for approximately $106,472.59, resulting in a 4.73% decrease in his ownership.
• The company's stock saw a 3.9% decline and is now trading at $10.97, with significant trading volume of over 3.6 million shares.
• Ocular Therapeutix reported a loss of ($0.39) earnings per share for the latest quarter, missing estimates, with revenues down 17.7% compared to the previous year.

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) insider Peter Kaiser sold 9,653 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $11.03, for a total transaction of $106,472.59. Following the sale, the insider directly owned 194,440 shares in the company, valued at approximately $2,144,673.20. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 25th, Peter Kaiser sold 3,011 shares of Ocular Therapeutix stock. The shares were sold at an average price of $12.04, for a total transaction of $36,252.44.

Ocular Therapeutix Stock Down 3.9%

NASDAQ:OCUL traded down $0.44 during trading hours on Monday, hitting $10.97. 3,659,926 shares of the stock traded hands, compared to its average volume of 1,994,939. The firm has a 50 day moving average price of $12.30 and a 200 day moving average price of $9.75. The company has a current ratio of 10.10, a quick ratio of 10.02 and a debt-to-equity ratio of 0.23. Ocular Therapeutix, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $13.85. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -8.57 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. During the same period last year, the firm earned ($0.26) earnings per share. Ocular Therapeutix's revenue for the quarter was down 17.7% compared to the same quarter last year. Equities research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Ocular Therapeutix

A number of hedge funds have recently bought and sold shares of OCUL. Adage Capital Partners GP L.L.C. lifted its stake in shares of Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company's stock valued at $38,116,000 after buying an additional 1,600,000 shares during the period. Paradigm Biocapital Advisors LP bought a new stake in shares of Ocular Therapeutix in the first quarter valued at about $9,632,000. Peregrine Capital Management LLC bought a new stake in shares of Ocular Therapeutix in the first quarter valued at about $6,212,000. Invesco Ltd. lifted its stake in shares of Ocular Therapeutix by 91.2% in the second quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company's stock valued at $14,280,000 after buying an additional 734,017 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Ocular Therapeutix by 142.8% in the second quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company's stock valued at $8,207,000 after buying an additional 520,138 shares during the period. 59.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of Ocular Therapeutix from $20.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 1st. Piper Sandler upped their price target on shares of Ocular Therapeutix from $21.00 to $31.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup reaffirmed an "outperform" rating on shares of Ocular Therapeutix in a research note on Wednesday, October 1st. Robert W. Baird upped their price target on shares of Ocular Therapeutix from $17.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Scotiabank dropped their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.13.

Ocular Therapeutix Company Profile

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.

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