Ocular Therapeutix (NASDAQ:OCUL) Insider Jeffrey Heier Sells 10,869 Shares of Company Stock

Ocular Therapeutix, Inc. (NASDAQ:OCUL) insider Jeffrey Heier sold 10,869 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $7.05, for a total value of $76,626.45. Following the completion of the sale, the insider directly owned 307,457 shares in the company, valued at approximately $2,167,571.85. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

Ocular Therapeutix Stock Up 1.2%

OCUL traded up $0.09 during trading on Tuesday, reaching $7.34. The stock had a trading volume of 2,795,753 shares, compared to its average volume of 4,000,442. The company has a current ratio of 13.10, a quick ratio of 13.03 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.17 and a beta of 1.00. The stock’s 50 day moving average is $9.78 and its two-hundred day moving average is $9.28. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $13.20 million. Ocular Therapeutix had a negative net margin of 579.10% and a negative return on equity of 59.89%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) EPS. As a group, analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently added to or reduced their stakes in OCUL. Engineers Gate Manager LP purchased a new position in shares of Ocular Therapeutix in the second quarter worth $401,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ocular Therapeutix during the second quarter valued at $51,000. NewEdge Advisors LLC boosted its position in shares of Ocular Therapeutix by 21.7% during the second quarter. NewEdge Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 2,979 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Ocular Therapeutix by 44.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,415,913 shares of the biopharmaceutical company’s stock worth $13,904,000 after buying an additional 435,156 shares in the last quarter. Finally, Second Line Capital LLC increased its holdings in Ocular Therapeutix by 20.9% in the 2nd quarter. Second Line Capital LLC now owns 638,640 shares of the biopharmaceutical company’s stock worth $6,271,000 after buying an additional 110,350 shares in the last quarter. 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 research reports. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, September 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, September 29th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Ocular Therapeutix in a report on Tuesday, September 29th. Robert W. Baird boosted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.33.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company focused on developing and commercializing therapies for diseases and conditions affecting the eye. The company uses its proprietary hydrogel-based formulation and delivery technologies to create sustained-release treatments intended to improve drug delivery, reduce dosing frequency and address unmet needs in ophthalmology.

Its commercial product is DEXTENZA, a corticosteroid ophthalmic insert that is placed in the canaliculus by a healthcare professional.