E. Ohman J or Asset Management AB Makes New $2.54 Million Investment in Ocular Therapeutix, Inc. $OCUL

E. Ohman J or Asset Management AB bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 1st quarter, HoldingsChannel reports. The fund bought 300,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,541,000.

A number of other large investors have also made changes to their positions in the stock. Citigroup Inc. boosted its stake in Ocular Therapeutix by 574.4% during the third quarter. Citigroup Inc. now owns 673,348 shares of the biopharmaceutical company’s stock worth $7,871,000 after buying an additional 573,504 shares during the last quarter. Vanguard Group Inc. grew its holdings in Ocular Therapeutix by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock valued at $107,118,000 after buying an additional 771,065 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Ocular Therapeutix in the 3rd quarter valued at $2,360,000. Avoro Capital Advisors LLC increased its stake in shares of Ocular Therapeutix by 38.5% in the 3rd quarter. Avoro Capital Advisors LLC now owns 10,250,000 shares of the biopharmaceutical company’s stock worth $119,822,000 after acquiring an additional 2,850,000 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB acquired a new stake in shares of Ocular Therapeutix in the 3rd quarter worth $2,361,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OCUL has been the topic of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.89.

Insider Transactions at Ocular Therapeutix

In related news, insider Pravin Dugel sold 21,156 shares of the company’s 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 completion of the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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. Over the last ninety days, insiders sold 28,999 shares of company stock worth $237,792. 3.10% of the stock is owned by insiders.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $9.43 on Monday. The firm has a 50 day simple moving average of $8.99 and a 200-day simple moving average of $9.90. 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 one year low of $6.23 and a one year high of $16.44. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -6.46 and a beta of 0.90.

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.