Cantor Fitzgerald L. P. Buys Shares of 201,865 Ocular Therapeutix, Inc. $OCUL

Cantor Fitzgerald L. P. purchased a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the third quarter, according to its most recent filing with the SEC. The firm purchased 201,865 shares of the biopharmaceutical company’s stock, valued at approximately $2,360,000. Cantor Fitzgerald L. P. owned 0.09% of Ocular Therapeutix at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its position in 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 in the last quarter. Vanguard Group Inc. raised its holdings in Ocular Therapeutix by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after purchasing an additional 771,065 shares in the last quarter. TCG Crossover Management LLC lifted its position in shares of Ocular Therapeutix by 15.0% during the third quarter. TCG Crossover Management LLC now owns 6,117,232 shares of the biopharmaceutical company’s stock valued at $71,510,000 after buying an additional 798,084 shares during the last quarter. Millennium Management LLC lifted its position in shares of Ocular Therapeutix by 3,136.1% during the third quarter. Millennium Management LLC now owns 3,855,706 shares of the biopharmaceutical company’s stock valued at $45,073,000 after buying an additional 3,736,560 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Ocular Therapeutix by 2.3% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 3,497,307 shares of the biopharmaceutical company’s stock valued at $40,884,000 after buying an additional 76,967 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sanjay Nayak sold 10,348 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 value of $93,545.92. Following the transaction, the insider directly owned 332,412 shares of the company’s stock, valued at $3,005,004.48. This represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pravin Dugel sold 20,056 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $8.28, for a total value of $166,063.68. Following the completion of the transaction, the insider directly owned 3,013,022 shares in the company, valued at approximately $24,947,822.16. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 197,221 shares of company stock valued at $1,754,805. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OCUL. Wall Street Zen downgraded shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Thursday, February 5th. William Blair reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a report on Monday, March 2nd. Chardan Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Thursday, January 22nd. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $8.49 on Thursday. The company has a 50 day moving average price of $9.66 and a 200 day moving average price of $11.33. The firm has a market capitalization of $1.85 billion, a P/E ratio of -5.90 and a beta of 0.91. The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. Ocular Therapeutix, Inc. has a 52 week low of $5.80 and a 52 week high of $16.44.

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

Ocular Therapeutix 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.