Pictet Asset Management Holding SA Buys 335,324 Shares of Ocular Therapeutix, Inc. $OCUL

Pictet Asset Management Holding SA grew its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 1,229.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,596 shares of the biopharmaceutical company’s stock after buying an additional 335,324 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.17% of Ocular Therapeutix worth $3,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OCUL. Hilton Head Capital Partners LLC boosted its position in shares of Ocular Therapeutix by 30.4% in the first quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,053 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Ocular Therapeutix by 124.2% during the 4th 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. The Manufacturers Life Insurance Company grew its holdings in shares of Ocular Therapeutix by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 72,618 shares of the biopharmaceutical company’s stock valued at $674,000 after purchasing an additional 1,314 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of Ocular Therapeutix by 24.3% in the fourth quarter. Trust Co. of Vermont now owns 8,950 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in Ocular Therapeutix by 21.2% in the second quarter. Rafferty Asset Management LLC now owns 13,413 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 2,343 shares during the last quarter. Institutional investors own 59.21% of the company’s stock.

Insider Activity at Ocular Therapeutix

In other 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 value of $173,479.20. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 worth $237,792 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Chardan Capital increased their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Robert W. Baird boosted their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix Stock Performance

Shares of NASDAQ:OCUL opened at $9.64 on Friday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -6.60 and a beta of 0.88. Ocular Therapeutix, Inc. has a 12 month low of $6.23 and a 12 month high of $16.44. The firm’s 50-day moving average is $9.11 and its 200 day moving average is $9.65. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12.

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.