State of New Jersey Common Pension Fund D Acquires Shares of 54,245 Ocular Therapeutix, Inc. $OCUL

State of New Jersey Common Pension Fund D bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the fourth quarter, Holdings Channel.com reports. The firm bought 54,245 shares of the biopharmaceutical company’s stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in OCUL. Millennium Management LLC lifted its stake in shares of Ocular Therapeutix by 3,136.1% in the 3rd quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after purchasing an additional 3,736,560 shares during the period. Alliancebernstein L.P. grew its holdings in Ocular Therapeutix by 2,003.2% in the third quarter. Alliancebernstein L.P. now owns 3,424,439 shares of the biopharmaceutical company’s stock worth $40,032,000 after purchasing an additional 3,261,619 shares during the period. Avoro Capital Advisors LLC lifted its holdings in shares of Ocular Therapeutix by 38.5% during the third quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock valued at $119,822,000 after purchasing an additional 2,850,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock worth $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Ocular Therapeutix by 902.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,189,276 shares of the biopharmaceutical company’s stock worth $25,593,000 after buying an additional 1,970,983 shares during the last quarter. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on OCUL. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. William Blair restated an “outperform” rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Stock Down 3.8%

Ocular Therapeutix stock opened at $9.28 on Tuesday. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44. The stock has a fifty day simple moving average of $9.08 and a two-hundred day simple moving average of $10.48. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -6.36 and a beta of 0.93.

Insider Buying and Selling

In other news, insider Sanjay Nayak sold 10,348 shares of Ocular Therapeutix stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the sale, the insider directly owned 332,412 shares in the company, valued at $3,005,004.48. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey S. Heier sold 3,057 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total transaction of $25,311.96. Following the transaction, the insider directly owned 323,368 shares of the company’s stock, valued at $2,677,487.04. The trade was a 0.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 185,731 shares of company stock worth $1,653,407 in the last three months. 2.30% of the stock is currently owned by company insiders.

About Ocular Therapeutix

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.