Ocular Therapeutix (NASDAQ:OCUL) Sees Large Volume Increase

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) saw unusually-strong trading volume on Friday . Approximately 783,758 shares changed hands during mid-day trading, a decline of 61% from the previous session’s volume of 2,001,828 shares.The stock last traded at $5.60 and had previously closed at $5.86.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America started coverage on shares of Ocular Therapeutix in a research note on Friday, February 9th. They set a “buy” rating and a $15.00 price objective on the stock. Piper Sandler raised their price objective on Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. StockNews.com downgraded Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Ocular Therapeutix in a report on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $24.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.60.

Ocular Therapeutix Price Performance

The company has a current ratio of 6.66, a quick ratio of 6.59 and a debt-to-equity ratio of 0.82. The stock has a market cap of $775.85 million, a price-to-earnings ratio of -4.18 and a beta of 1.30. The company has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $5.31.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). Ocular Therapeutix had a negative return on equity of 321.12% and a negative net margin of 138.15%. The business had revenue of $14.80 million for the quarter, compared to analyst estimates of $15.31 million. Research analysts expect that Ocular Therapeutix, Inc. will post -0.68 EPS for the current year.

Insider Activity

In other Ocular Therapeutix news, major shareholder Summer Road Llc bought 930,851 shares of Ocular Therapeutix stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now owns 8,591,401 shares of the company’s stock, valued at approximately $64,607,335.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ocular Therapeutix news, insider Rabia Gurses Ozden sold 7,764 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.95, for a total value of $38,431.80. Following the completion of the transaction, the insider now directly owns 92,767 shares in the company, valued at $459,196.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summer Road Llc acquired 930,851 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the purchase, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The disclosure for this purchase can be found here. Insiders have sold 39,366 shares of company stock worth $194,862 over the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCUL. Trust Co. of Vermont increased its stake in shares of Ocular Therapeutix by 20.0% during the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ocular Therapeutix by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 206,249 shares of the biopharmaceutical company’s stock worth $1,087,000 after purchasing an additional 1,720 shares during the period. FMR LLC increased its position in Ocular Therapeutix by 84.4% during the first quarter. FMR LLC now owns 4,751 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 2,175 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Ocular Therapeutix by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 293,412 shares of the biopharmaceutical company’s stock valued at $1,514,000 after buying an additional 3,357 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Ocular Therapeutix by 61.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,225 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,500 shares during the last quarter. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.