Readystate Asset Management LP Buys Shares of 883,621 Ocular Therapeutix, Inc. $OCUL

Readystate Asset Management LP bought a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 883,621 shares of the biopharmaceutical company’s stock, valued at approximately $7,484,000.

A number of other hedge funds have also modified their holdings of OCUL. Royal Bank of Canada increased its stake in shares of Ocular Therapeutix by 175.1% in the first quarter. Royal Bank of Canada now owns 26,554 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 16,902 shares during the last quarter. Rock Springs Capital Management LP boosted its position in Ocular Therapeutix by 11.0% during the first quarter. Rock Springs Capital Management LP now owns 383,716 shares of the biopharmaceutical company’s stock valued at $3,250,000 after purchasing an additional 37,896 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Ocular Therapeutix by 145.9% in the first quarter. The Manufacturers Life Insurance Company now owns 227,808 shares of the biopharmaceutical company’s stock valued at $1,930,000 after purchasing an additional 135,160 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Ocular Therapeutix in the first quarter valued at about $98,000. Finally, Commodore Capital LP acquired a new position in Ocular Therapeutix in the 1st quarter worth about $21,810,000. 59.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction dated 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 sale, the insider owned 2,597,170 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at 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. Insiders sold a total of 28,999 shares of company stock valued at $237,792 over the last ninety days. 3.10% of the stock is owned by insiders.

Ocular Therapeutix Trading Down 2.2%

Shares of NASDAQ:OCUL opened at $8.45 on Wednesday. The company has a current ratio of 14.81, a quick ratio of 14.73 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.85 billion, a PE ratio of -5.79 and a beta of 0.88. Ocular Therapeutix, Inc. has a 1 year low of $6.23 and a 1 year high of $16.44. The firm has a fifty day moving average price of $9.14 and a 200 day moving average price of $9.24.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird raised their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Zacks Research cut Ocular Therapeutix from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.11.

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.