Deltec Asset Management LLC Purchases 147,400 Shares of Ocular Therapeutix, Inc. $OCUL

Deltec Asset Management LLC raised its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 6.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,623,597 shares of the biopharmaceutical company’s stock after buying an additional 147,400 shares during the quarter. Ocular Therapeutix accounts for about 3.1% of Deltec Asset Management LLC’s investment portfolio, making the stock its 7th largest position. Deltec Asset Management LLC’s holdings in Ocular Therapeutix were worth $20,123,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Ocular Therapeutix by 401.7% during the 3rd quarter. Sterling Capital Management LLC now owns 6,612 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 5,294 shares during the period. Root Financial Partners LLC acquired a new position in Ocular Therapeutix during the 3rd quarter worth $66,000. Engineers Gate Manager LP bought a new stake in shares of Ocular Therapeutix during the second quarter worth $401,000. Integrated Wealth Concepts LLC bought a new stake in shares of Ocular Therapeutix during the second quarter worth $51,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Ocular Therapeutix by 21.7% during the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after acquiring an additional 2,979 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OCUL. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a report on Monday, October 19th. Wall Street Zen upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Thursday, October 15th. UBS Group started coverage on Ocular Therapeutix in a research report on Sunday, October 11th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Zacks Research raised Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

Ocular Therapeutix Stock Performance

Ocular Therapeutix stock opened at $6.47 on Tuesday. Ocular Therapeutix, Inc. has a 12-month low of $6.00 and a 12-month high of $16.44. The business’s 50-day moving average price is $9.14 and its two-hundred day moving average price is $9.21. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.42 billion, a PE ratio of -4.56 and a beta of 1.00.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. The firm had revenue of $13.47 million during the quarter, compared to the consensus estimate of $13.20 million. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company earned ($0.39) earnings per share. As a group, analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Peter Kaiser sold 9,990 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $70,429.50. Following the transaction, the insider directly owned 254,388 shares of the company’s stock, valued at $1,793,435.40. The trade was a 3.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. Also, insider Jeffrey Heier sold 10,869 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $76,626.45. Following the sale, the insider directly owned 307,457 shares of the company’s stock, valued at $2,167,571.85. This represents a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 62,720 shares of company stock valued at $556,247. Insiders own 3.10% of the company’s stock.

About Ocular Therapeutix

Ocular Therapeutix, Inc (NASDAQ:OCUL) is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based drug-delivery technology to provide sustained or controlled release of medicines in ophthalmic applications.

Its commercial products include Dextenza, a dexamethasone ophthalmic insert used to treat ocular inflammation and itching following ophthalmic surgery, and Yutiq, a fluocinolone acetonide intravitreal implant indicated for the treatment of chronic noninfectious posterior uveitis.