Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 9.2%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) was down 9.2% during mid-day trading on Thursday . The company traded as low as $6.88 and last traded at $6.88. Approximately 425,027 shares were traded during trading, a decline of 78% from the average daily volume of 1,943,824 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on OCUL shares. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a report on Tuesday. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Ocular Therapeutix in a report on Wednesday, February 14th. Bank of America assumed coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They set a “buy” rating and a $15.00 price target on the stock. StockNews.com cut shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Finally, Piper Sandler boosted their price target on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Ocular Therapeutix Trading Down 15.2 %

The firm has a market cap of $955.69 million, a P/E ratio of -5.50 and a beta of 1.30. The company has a quick ratio of 6.59, a current ratio of 6.66 and a debt-to-equity ratio of 0.82. The firm’s 50-day simple moving average is $8.74 and its 200 day simple moving average is $5.29.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). The business had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. As a group, analysts expect that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, CFO Donald Notman sold 6,433 shares of Ocular Therapeutix stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $31,843.35. Following the sale, the chief financial officer now owns 139,932 shares of the company’s stock, valued at $692,663.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Philip C. Strassburger sold 6,831 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total value of $33,813.45. Following the sale, the general counsel now owns 109,218 shares of the company’s stock, valued at $540,629.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Donald Notman sold 6,433 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $31,843.35. Following the completion of the sale, the chief financial officer now directly owns 139,932 shares in the company, valued at approximately $692,663.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,366 shares of company stock valued at $194,862. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 2,175 shares in the last quarter. Trust Co. of Vermont grew its stake in Ocular Therapeutix by 20.0% during the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Ocular Therapeutix by 350.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,192 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 7,152 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Ocular Therapeutix by 61.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Ocular Therapeutix by 142.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,756 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 5,730 shares in the last quarter. Institutional investors own 59.21% 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.