783,999 Shares in Ocular Therapeutix, Inc. $OCUL Acquired by Spruce Street Capital LP

Spruce Street Capital LP purchased a new position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 783,999 shares of the biopharmaceutical company’s stock, valued at approximately $9,518,000. Ocular Therapeutix comprises 3.1% of Spruce Street Capital LP’s holdings, making the stock its 12th largest holding. Spruce Street Capital LP owned 0.36% of Ocular Therapeutix as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OCUL. Verition Fund Management LLC boosted its stake in Ocular Therapeutix by 3.4% during the 4th quarter. Verition Fund Management LLC now owns 171,606 shares of the biopharmaceutical company’s stock valued at $2,083,000 after purchasing an additional 5,573 shares during the last quarter. Walleye Trading LLC purchased a new stake in Ocular Therapeutix during the 4th quarter valued at $221,000. Landscape Capital Management L.L.C. purchased a new stake in Ocular Therapeutix during the 4th quarter valued at $188,000. Barclays PLC boosted its stake in Ocular Therapeutix by 108.4% during the 4th quarter. Barclays PLC now owns 857,649 shares of the biopharmaceutical company’s stock valued at $10,412,000 after purchasing an additional 446,032 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Chardan Capital reiterated a “buy” rating and set a $21.00 target price on shares of Ocular Therapeutix in a research note on Wednesday, February 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Ocular Therapeutix in a report on Wednesday, May 6th. Citigroup reissued an “outperform” rating on shares of Ocular Therapeutix in a report on Tuesday, February 17th. Wall Street Zen cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of Ocular Therapeutix in a report on Monday, April 13th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average price target of $23.78.

Ocular Therapeutix Price Performance

Shares of Ocular Therapeutix stock opened at $8.99 on Tuesday. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44. The stock’s fifty day moving average is $8.91 and its 200 day moving average is $9.98. The stock has a market cap of $1.97 billion, a P/E ratio of -6.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the completion of the transaction, the insider owned 2,597,170 shares in the company, valued at $21,296,794. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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. Insiders sold a total of 28,999 shares of company stock worth $237,792 in the last ninety days. Company insiders own 3.10% of the company’s stock.

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.