Patient Square Capital LP Boosts Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Patient Square Capital LP increased its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 470,919 shares of the biopharmaceutical company's stock after buying an additional 235,421 shares during the quarter. Ocular Therapeutix accounts for about 1.5% of Patient Square Capital LP's holdings, making the stock its 10th biggest holding. Patient Square Capital LP owned approximately 0.30% of Ocular Therapeutix worth $4,022,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. MetLife Investment Management LLC grew its holdings in Ocular Therapeutix by 2.7% during the fourth quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock worth $792,000 after buying an additional 2,454 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Ocular Therapeutix by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock worth $237,000 after purchasing an additional 2,526 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ocular Therapeutix by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock worth $755,000 after purchasing an additional 2,853 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock valued at $285,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Ocular Therapeutix by 0.6% in the 4th quarter. Cetera Investment Advisers now owns 723,840 shares of the biopharmaceutical company's stock valued at $6,182,000 after acquiring an additional 4,342 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OCUL has been the topic of several research reports. Royal Bank of Canada started coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an "outperform" rating and a $17.00 price target on the stock. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. Needham & Company LLC reduced their price target on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. William Blair assumed coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

Ocular Therapeutix Price Performance

OCUL traded up $0.17 during trading on Monday, reaching $7.39. The stock had a trading volume of 562,196 shares, compared to its average volume of 1,397,040. Ocular Therapeutix, Inc. has a 1-year low of $4.79 and a 1-year high of $11.78. The stock has a 50 day moving average of $7.41 and a two-hundred day moving average of $8.12. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -5.57 and a beta of 1.51. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted 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, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Ocular Therapeutix

In related news, Director Richard L. Md Lindstrom purchased 10,000 shares of the stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.96 per share, with a total value of $69,600.00. Following the acquisition, the director now directly owns 172,704 shares in the company, valued at $1,202,019.84. The trade was a 6.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at $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. Corporate insiders own 2.30% of the company's stock.

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.