Y Intercept Hong Kong Ltd Lowers Position in Ocular Therapeutix, Inc. $OCUL

Y Intercept Hong Kong Ltd trimmed its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 86.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 54,703 shares of the biopharmaceutical company’s stock after selling 340,632 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ocular Therapeutix were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OCUL. Cantor Fitzgerald L. P. purchased a new position in shares of Ocular Therapeutix in the 3rd quarter valued at approximately $2,360,000. Assenagon Asset Management S.A. boosted its position in shares of Ocular Therapeutix by 1,261.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 620,814 shares of the biopharmaceutical company’s stock valued at $7,537,000 after purchasing an additional 575,214 shares in the last quarter. Empire Life Investments Inc. grew its stake in Ocular Therapeutix by 115.0% in the fourth quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock worth $6,557,000 after purchasing an additional 288,853 shares during the period. Prescott Group Capital Management L.L.C. purchased a new stake in Ocular Therapeutix in the fourth quarter worth $3,800,000. Finally, Beacon Investment Advisors LLC bought a new position in Ocular Therapeutix in the fourth quarter worth $2,010,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Down 1.8%

NASDAQ:OCUL opened at $9.70 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The firm has a market cap of $2.12 billion, a P/E ratio of -6.64 and a beta of 0.88. Ocular Therapeutix, Inc. has a fifty-two week low of $6.23 and a fifty-two week high of $16.44. The firm has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $9.46.

Insider Activity at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the sale, the insider owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Insiders have sold a total of 28,999 shares of company stock worth $237,792 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

OCUL has been the subject of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday, June 18th. Robert W. Baird lifted their price target on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Chardan Capital boosted their price objective on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings reissued 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.11.

Ocular Therapeutix 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.