Ocular Therapeutix (NASDAQ:OCUL) Shares Gap Down on Insider Selling

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s stock price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $8.88, but opened at $6.41. Ocular Therapeutix shares last traded at $6.8550, with a volume of 24,537,190 shares changing hands.

Specifically, insider Nadia Waheed sold 7,863 shares of Ocular Therapeutix stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $71,081.52. Following the completion of the transaction, the insider owned 318,417 shares in the company, valued at approximately $2,878,489.68. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pravin Dugel sold 124,882 shares of Ocular Therapeutix stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total transaction of $1,128,933.28. Following the transaction, the insider directly owned 3,033,078 shares in the company, valued at $27,419,025.12. This represents a 3.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, insider Sanjay Nayak sold 10,348 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $93,545.92. Following the completion of the sale, the insider owned 332,412 shares in the company, valued at $3,005,004.48. This represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research firms recently commented on OCUL. TD Cowen reaffirmed a “buy” rating on shares of Ocular Therapeutix in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Thursday, January 22nd. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Ocular Therapeutix in a research note on Monday, December 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, February 5th. Twelve equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Ocular Therapeutix Stock Performance

The company has a quick ratio of 15.32, a current ratio of 15.39 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.53 billion, a PE ratio of -4.88 and a beta of 0.90. The company has a 50-day moving average price of $11.04 and a two-hundred day moving average price of $11.74.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Thursday, February 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.04. Ocular Therapeutix had a negative net margin of 511.90% and a negative return on equity of 70.68%. The company had revenue of $13.25 million during the quarter, compared to analyst estimates of $16.13 million. During the same period last year, the business earned ($0.29) earnings per share. Ocular Therapeutix’s revenue was down 22.4% compared to the same quarter last year. Analysts predict that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Institutional Trading of Ocular Therapeutix

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in shares of Ocular Therapeutix by 124.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,242 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Ocular Therapeutix by 62.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,604 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,392 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Ocular Therapeutix in the 4th quarter worth approximately $42,000. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix in the fourth quarter valued at approximately $61,000. Finally, KBC Group NV purchased a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $78,000. 59.21% of the stock is owned by institutional investors.

About Ocular Therapeutix

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.