Short Interest in Ocular Therapeutix, Inc. (NASDAQ:OCUL) Increases By 27.8%

Ocular Therapeutix, Inc. (NASDAQ:OCUL) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 14,706,215 shares, a growth of 27.8% from the January 29th total of 11,506,830 shares. Based on an average daily trading volume, of 4,940,376 shares, the short-interest ratio is presently 3.0 days. Approximately 6.9% of the company’s stock are sold short. Approximately 6.9% of the company’s stock are sold short. Based on an average daily trading volume, of 4,940,376 shares, the short-interest ratio is presently 3.0 days.

Ocular Therapeutix Stock Performance

NASDAQ OCUL traded up $0.28 on Wednesday, reaching $11.04. The stock had a trading volume of 5,968,325 shares, compared to its average volume of 7,281,286. The stock has a market cap of $2.40 billion, a P/E ratio of -7.67 and a beta of 0.91. Ocular Therapeutix has a 12-month low of $5.80 and a 12-month high of $16.44. The business’s 50-day moving average price is $10.23 and its 200 day moving average price is $11.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 15.32 and a current ratio of 15.39.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings results on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. The firm had revenue of $13.25 million during the quarter, compared to the consensus estimate of $16.13 million. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. Ocular Therapeutix’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) EPS. As a group, equities analysts expect that Ocular Therapeutix will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on OCUL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. Needham & Company LLC decreased their price objective on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, February 20th. HC Wainwright increased their target price on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, December 8th. Jefferies Financial Group restated a “buy” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. Finally, Chardan Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Ocular Therapeutix in a report on Wednesday, February 18th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus target price of $23.78.

Insiders Place Their Bets

In other news, insider Nadia Waheed sold 7,863 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $71,081.52. Following the sale, the insider owned 318,417 shares of the company’s stock, valued at approximately $2,878,489.68. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Donald Notman sold 11,446 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $103,471.84. Following the transaction, the chief operating officer directly owned 366,356 shares of the company’s stock, valued at $3,311,858.24. The trade was a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 197,221 shares of company stock valued at $1,754,805. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ocular Therapeutix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 in the last quarter. Nisa Investment Advisors LLC lifted its position in Ocular Therapeutix by 62.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 1,392 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in Ocular Therapeutix in the fourth quarter valued at about $42,000. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix in the 4th quarter valued at approximately $61,000. Finally, KBC Group NV acquired a new position in Ocular Therapeutix during the 4th quarter worth approximately $78,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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.