Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 83.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,208 shares of the biopharmaceutical company's stock after selling 382,218 shares during the quarter. Wells Fargo & Company MN's holdings in Ocular Therapeutix were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OCUL. Teacher Retirement System of Texas raised its stake in Ocular Therapeutix by 10.0% in the 4th quarter. Teacher Retirement System of Texas now owns 27,777 shares of the biopharmaceutical company's stock worth $237,000 after acquiring an additional 2,526 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock worth $285,000 after purchasing an additional 3,347 shares during the period. Wellington Management Group LLP increased its holdings in Ocular Therapeutix by 1.0% in the 4th quarter. Wellington Management Group LLP now owns 467,352 shares of the biopharmaceutical company's stock worth $3,991,000 after buying an additional 4,488 shares during the period. Sei Investments Co. boosted its holdings in shares of Ocular Therapeutix by 19.3% in the 4th quarter. Sei Investments Co. now owns 27,742 shares of the biopharmaceutical company's stock valued at $237,000 after acquiring an additional 4,496 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $43,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL traded down $0.55 during midday trading on Tuesday, hitting $7.18. The stock had a trading volume of 1,902,926 shares, compared to its average volume of 1,447,468. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $8.36. The company has a market capitalization of $1.14 billion, a PE ratio of -5.44 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.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The business had revenue of $17.08 million for the quarter, compared to analyst estimates 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 expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on OCUL. Royal Bank of Canada started coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 price objective on the stock. William Blair initiated coverage on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. They set an "outperform" rating on the stock. JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. HC Wainwright restated a "buy" rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reduced their price target on Ocular Therapeutix from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.25.

Insider Activity at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,475 shares of the company'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 value of $147,533.25. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.50% of the stock is owned by corporate insiders.

Ocular Therapeutix 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.