Insider Selling: Ocular Therapeutix (NASDAQ:OCUL) Insider Sells 21,156 Shares of Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total value of $173,479.20. Following the sale, the insider owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ocular Therapeutix Stock Up 7.1%

OCUL stock traded up $0.61 during trading on Thursday, hitting $9.15. 3,382,545 shares of the company’s stock were exchanged, compared to its average volume of 5,029,148. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The business has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $10.24. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -6.27 and a beta of 0.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OCUL. Steward Partners Investment Advisory LLC grew its holdings in Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,242 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix during the fourth quarter worth $31,000. Hilton Head Capital Partners LLC grew its holdings in Ocular Therapeutix by 30.4% during the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,053 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Ocular Therapeutix during the fourth quarter worth $61,000. Finally, KBC Group NV acquired a new position in Ocular Therapeutix during the fourth quarter worth $78,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OCUL shares. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research note on Monday, April 13th. Chardan Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Citigroup reiterated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.