Deltec Asset Management LLC Trims Position in Ocular Therapeutix, Inc. $OCUL

Deltec Asset Management LLC reduced its stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,340,620 shares of the biopharmaceutical company’s stock after selling 147,314 shares during the period. Ocular Therapeutix comprises approximately 3.6% of Deltec Asset Management LLC’s holdings, making the stock its 6th biggest position. Deltec Asset Management LLC owned 1.08% of Ocular Therapeutix worth $19,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summer Road LLC lifted its position in shares of Ocular Therapeutix by 6.9% during the first quarter. Summer Road LLC now owns 11,879,825 shares of the biopharmaceutical company’s stock worth $100,622,000 after purchasing an additional 771,270 shares during the last quarter. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 26.3% during the fourth quarter. Vanguard Group Inc. now owns 11,575,193 shares of the biopharmaceutical company’s stock valued at $140,523,000 after buying an additional 2,411,953 shares in the last quarter. Avoro Capital Advisors LLC raised its stake in Ocular Therapeutix by 5.1% during the fourth quarter. Avoro Capital Advisors LLC now owns 10,777,777 shares of the biopharmaceutical company’s stock valued at $130,842,000 after buying an additional 527,777 shares in the last quarter. TCG Crossover Management LLC raised its stake in 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Ocular Therapeutix by 15.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,625,050 shares of the biopharmaceutical company’s stock worth $56,148,000 after buying an additional 620,700 shares during the last quarter. Institutional investors own 59.21% of the company’s stock.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the business’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 transaction of $173,479.20. Following the completion of the transaction, the insider directly owned 2,597,170 shares in the company, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OCUL shares. Robert W. Baird boosted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Chardan Capital lifted their price objective on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.11.

Ocular Therapeutix Trading Down 3.6%

Shares of NASDAQ:OCUL opened at $9.47 on Thursday. The company has a quick ratio of 14.73, a current ratio of 14.81 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $9.11 and its 200 day moving average price is $9.68. The company has a market cap of $2.07 billion, a PE ratio of -6.49 and a beta of 0.88. Ocular Therapeutix, Inc. has a fifty-two week low of $6.23 and a fifty-two week high of $16.44.

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.