Ocular Therapeutix, Inc. $OCUL Shares Acquired by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC raised its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,777,777 shares of the biopharmaceutical company’s stock after acquiring an additional 527,777 shares during the quarter. Ocular Therapeutix comprises approximately 1.3% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Avoro Capital Advisors LLC’s holdings in Ocular Therapeutix were worth $130,842,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Millennium Management LLC boosted its holdings in Ocular Therapeutix by 3,136.1% in the third 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. increased its holdings in Ocular Therapeutix by 2,003.2% during the 3rd 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. Vanguard Group Inc. raised its position in Ocular Therapeutix by 26.3% in the 4th quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after purchasing an additional 2,411,953 shares in the last quarter. Janus Henderson Group PLC raised its position in Ocular Therapeutix by 106.5% in the 4th quarter. Janus Henderson Group PLC now owns 4,229,202 shares of the biopharmaceutical company’s stock valued at $51,321,000 after purchasing an additional 2,180,702 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted 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 valued at $25,593,000 after buying an additional 1,970,983 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insiders Place Their Bets

In related news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the sale, the insider directly owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. This represents a 0.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Insiders sold a total of 28,999 shares of company stock valued at $237,792 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on OCUL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research note on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus price target of $24.89.

Ocular Therapeutix Stock Performance

NASDAQ:OCUL opened at $9.43 on Friday. The stock has a fifty day moving average price of $8.99 and a two-hundred day moving average price of $9.91. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -6.46 and a beta of 0.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44.

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.