Avoro Capital Advisors LLC Buys 527,777 Shares of Ocular Therapeutix, Inc. $OCUL

Avoro Capital Advisors LLC boosted its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,777,777 shares of the biopharmaceutical company’s stock after acquiring an additional 527,777 shares during the period. Ocular Therapeutix accounts for 1.3% of Avoro Capital Advisors LLC’s portfolio, making the stock its 20th biggest position. Avoro Capital Advisors LLC’s holdings in Ocular Therapeutix were worth $130,842,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in Ocular Therapeutix by 124.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $42,000. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $61,000. State of Wyoming bought a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $78,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Ocular Therapeutix by 420.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,412 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 5,179 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors.

Insider Activity

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. In the last quarter, insiders sold 28,999 shares of company stock worth $237,792. 3.10% of the stock is currently owned by corporate insiders.

Ocular Therapeutix Price Performance

Ocular Therapeutix stock opened at $8.94 on Wednesday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -6.12 and a beta of 0.90. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44. The stock’s 50 day moving average price is $8.92 and its two-hundred day moving average price is $9.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81.

Wall Street Analyst Weigh In

OCUL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Finally, Chardan Capital restated a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Wednesday, February 18th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.