Polar Asset Management Partners Inc. Reduces Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Polar Asset Management Partners Inc. reduced its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 20.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 394,400 shares of the biopharmaceutical company's stock after selling 98,500 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.25% of Ocular Therapeutix worth $3,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Ocular Therapeutix by 32.8% in the 4th quarter. ProShare Advisors LLC now owns 51,270 shares of the biopharmaceutical company's stock worth $438,000 after purchasing an additional 12,669 shares in the last quarter. Patient Square Capital LP grew its position in Ocular Therapeutix by 100.0% in the fourth quarter. Patient Square Capital LP now owns 470,919 shares of the biopharmaceutical company's stock valued at $4,022,000 after acquiring an additional 235,421 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ocular Therapeutix by 22.0% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 270,422 shares of the biopharmaceutical company's stock valued at $2,309,000 after buying an additional 48,763 shares in the last quarter. Millennium Management LLC bought a new position in Ocular Therapeutix in the fourth quarter valued at about $3,819,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ocular Therapeutix by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,463 shares of the biopharmaceutical company's stock valued at $755,000 after purchasing an additional 2,853 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OCUL shares. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective on the stock. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair initiated coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC cut their price target on shares of Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Ocular Therapeutix has an average rating of "Moderate Buy" and a consensus target price of $16.25.

Ocular Therapeutix Stock Up 4.0%

OCUL stock traded up $0.29 during trading on Monday, hitting $7.51. 1,553,689 shares of the stock traded hands, compared to its average volume of 1,400,694. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.69 and a beta of 1.51. Ocular Therapeutix, Inc. has a 1 year low of $4.79 and a 1 year high of $11.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The firm's 50 day moving average is $7.39 and its two-hundred day moving average is $8.10.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $17.08 million during the quarter, compared to analysts' expectations of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. On average, sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, Director Richard L. Md Lindstrom acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average cost of $6.96 per share, with a total value of $69,600.00. Following the completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of Ocular Therapeutix stock in a transaction on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the transaction, the insider now 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.

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.