Ocular Therapeutix (NASDAQ:OCUL) Trading Up 5.5% - Here's What Happened

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares rose 5.5% during trading on Tuesday . The stock traded as high as $10.03 and last traded at $10.14. Approximately 213,351 shares were traded during trading, a decline of 85% from the average daily volume of 1,411,193 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

OCUL has been the subject of several recent analyst reports. Needham & Company LLC cut their target price on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. William Blair assumed coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research report on Thursday, May 29th. Finally, Royal Bank Of Canada initiated 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. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Ocular Therapeutix presently has an average rating of "Buy" and a consensus price target of $17.33.

Ocular Therapeutix Price Performance

The company has a 50 day moving average price of $8.40 and a 200-day moving average price of $7.91. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -9.59 and a beta of 1.43. The company has a quick ratio of 10.14, a current ratio of 10.22 and a debt-to-equity ratio of 0.26.

Insider Transactions at Ocular Therapeutix

In other news, Director Richard L. Md Lindstrom acquired 10,000 shares of Ocular Therapeutix stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $6.96 per share, with a total value of $69,600.00. Following the purchase, the director owned 172,704 shares in the company, valued at $1,202,019.84. This trade represents a 6.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,219 shares of Ocular Therapeutix stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $7.18, for a total transaction of $152,352.42. Following the transaction, the insider directly owned 3,499,099 shares of the company's stock, valued at $25,123,530.82. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,079 shares of company stock valued at $208,739 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Ocular Therapeutix by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,485 shares of the biopharmaceutical company's stock worth $9,663,000 after acquiring an additional 21,025 shares during the period. Victory Capital Management Inc. boosted its position in shares of Ocular Therapeutix by 300.4% during the 4th quarter. Victory Capital Management Inc. now owns 68,871 shares of the biopharmaceutical company's stock valued at $588,000 after purchasing an additional 51,671 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Ocular Therapeutix during the fourth quarter worth approximately $1,722,000. AlphaQuest LLC bought a new stake in Ocular Therapeutix in the fourth quarter worth approximately $53,000. Finally, Cibc World Markets Corp acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $124,000. Institutional investors and hedge funds own 59.21% of the company's stock.

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.