Ocular Therapeutix, Inc. $OCUL Stock Holdings Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 92.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 45,600 shares of the biopharmaceutical company’s stock after selling 575,214 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ocular Therapeutix were worth $386,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of OCUL. Cantor Fitzgerald L. P. bought a new position in shares of Ocular Therapeutix during the 3rd quarter valued at about $2,360,000. Avoro Capital Advisors LLC raised its holdings 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 purchasing an additional 2,850,000 shares in the last quarter. Rhenman & Partners Asset Management AB bought a new stake in shares of Ocular Therapeutix in the 3rd quarter worth approximately $2,361,000. Empire Life Investments Inc. raised its holdings in shares of Ocular Therapeutix by 115.0% in the 4th quarter. Empire Life Investments Inc. now owns 540,115 shares of the biopharmaceutical company’s stock worth $6,557,000 after purchasing an additional 288,853 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $3,800,000. Institutional investors own 59.21% of the company’s stock.

Ocular Therapeutix Stock Performance

Shares of NASDAQ OCUL opened at $9.64 on Friday. 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, Inc. has a one year low of $6.23 and a one year high of $16.44. The business has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $9.65. The firm has a market capitalization of $2.11 billion, a PE ratio of -6.60 and a beta of 0.88.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages have recently commented on OCUL. Robert W. Baird increased their price objective on Ocular Therapeutix from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Chardan Capital boosted their target price on Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, May 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Ocular Therapeutix 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.