Ocular Therapeutix, Inc. $OCUL Shares Sold by Patient Square Capital LP

Patient Square Capital LP trimmed its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,000 shares of the biopharmaceutical company’s stock after selling 102,699 shares during the period. Ocular Therapeutix makes up approximately 2.2% of Patient Square Capital LP’s portfolio, making the stock its 9th biggest position. Patient Square Capital LP owned approximately 0.34% of Ocular Therapeutix worth $8,358,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Ocular Therapeutix by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,163,240 shares of the biopharmaceutical company’s stock worth $107,118,000 after purchasing an additional 771,065 shares during the period. Invesco Ltd. raised its holdings in Ocular Therapeutix by 91.2% during the second quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company’s stock worth $14,280,000 after buying an additional 734,017 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Ocular Therapeutix by 142.8% during the second quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company’s stock valued at $8,207,000 after buying an additional 520,138 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Ocular Therapeutix by 1.7% during the second quarter. Peregrine Capital Management LLC now owns 861,962 shares of the biopharmaceutical company’s stock valued at $7,999,000 after buying an additional 14,494 shares during the last quarter. Finally, Saturn V Capital Management LP grew its holdings in shares of Ocular Therapeutix by 21.8% during the second quarter. Saturn V Capital Management LP now owns 728,576 shares of the biopharmaceutical company’s stock valued at $6,761,000 after buying an additional 130,385 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insider Activity at Ocular Therapeutix

In related news, COO Donald Notman sold 11,446 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $9.04, for a total value of $103,471.84. Following the transaction, the chief operating officer owned 366,356 shares in the company, valued at approximately $3,311,858.24. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pravin Dugel sold 124,882 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $9.04, for a total value of $1,128,933.28. Following the transaction, the insider directly owned 3,033,078 shares of the company’s stock, valued at approximately $27,419,025.12. This trade represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 166,029 shares of company stock worth $1,498,430. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC dropped their price target on shares of Ocular Therapeutix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group restated a “buy” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Wall Street Zen raised Ocular Therapeutix from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. HC Wainwright increased their price target on Ocular Therapeutix from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Tuesday, February 17th. 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’s stock. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and a consensus price target of $23.78.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $7.78 on Monday. The business’s fifty day simple moving average is $10.76 and its 200 day simple moving average is $11.67. The company has a current ratio of 15.39, a quick ratio of 15.32 and a debt-to-equity ratio of 0.11. Ocular Therapeutix, Inc. has a 12 month low of $5.78 and a 12 month high of $16.44. The firm has a market capitalization of $1.69 billion, a P/E ratio of -5.40 and a beta of 0.90.

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

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.