Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) were up 7.7% during mid-day trading on Monday . The company traded as high as $9.70 and last traded at $9.93. Approximately 280,472 shares were traded during trading, a decline of 80% from the average daily volume of 1,400,674 shares. The stock had previously closed at $9.22.
Analyst Ratings Changes
A number of analysts recently weighed in on OCUL shares. 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 on the stock. Needham & Company LLC decreased their target price 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. William Blair initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. They set an "outperform" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, May 29th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ocular Therapeutix presently has an average rating of "Buy" and an average price target of $17.33.
Read Our Latest Analysis on Ocular Therapeutix
Ocular Therapeutix Price Performance
The company has a market cap of $1.49 billion, a price-to-earnings ratio of -8.14 and a beta of 1.43. The company has a fifty day simple moving average of $8.16 and a two-hundred day simple moving average of $7.84. 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 Activity at Ocular Therapeutix
In related news, Director Richard L. Md Lindstrom purchased 10,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.96 per share, with a total value of $69,600.00. Following the completion of the transaction, the director owned 172,704 shares of the company's stock, valued at approximately $1,202,019.84. This represents a 6.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pravin Dugel sold 21,219 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $7.18, for a total value of $152,352.42. Following the completion of the sale, the insider owned 3,499,099 shares in the company, valued at $25,123,530.82. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,079 shares of company stock worth $208,739 over the last quarter. Company insiders own 2.30% of the company's stock.
Institutional Trading of Ocular Therapeutix
A number of large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new position in Ocular Therapeutix in the 4th quarter valued at about $28,000. Brooklyn Investment Group raised its position in shares of Ocular Therapeutix by 151.5% in the first quarter. Brooklyn Investment Group now owns 5,238 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 3,155 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix during the fourth quarter valued at approximately $43,000. AlphaQuest LLC acquired a new stake in Ocular Therapeutix during the fourth quarter worth approximately $53,000. Finally, GAMMA Investing LLC boosted its position in Ocular Therapeutix by 6,760.0% during the first quarter. GAMMA Investing LLC now owns 8,232 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 8,112 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company's stock.
About Ocular Therapeutix
(
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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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