Ocular Therapeutix (NASDAQ:OCUL) Trading Down 4.9% - Time to Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares fell 4.9% during trading on Wednesday . The company traded as low as $7.14 and last traded at $7.16. 186,431 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,566,199 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OCUL. William Blair assumed coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an "outperform" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada began coverage on Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ocular Therapeutix has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Ocular Therapeutix Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The stock has a 50-day moving average of $7.21 and a 200-day moving average of $8.52. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -5.77 and a beta of 1.49.

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

Insiders Place Their Bets

In related news, insider Donald Notman sold 6,301 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the completion of the transaction, the insider now owns 204,563 shares of the company's stock, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the transaction, the insider now owns 3,520,318 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OCUL. GF Fund Management CO. LTD. bought a new position in Ocular Therapeutix in the fourth quarter valued at about $28,000. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix during the 4th quarter worth $43,000. AlphaQuest LLC acquired a new position in Ocular Therapeutix in the 4th quarter worth about $53,000. GAMMA Investing LLC raised its position in Ocular Therapeutix by 6,760.0% in the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 8,112 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted 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 valued at $76,000 after purchasing an additional 8,446 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.