Morgan Stanley Sells 88,589 Shares of Ocular Therapeutix Inc (NASDAQ:OCUL)

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Morgan Stanley reduced its stake in shares of Ocular Therapeutix Inc (NASDAQ:OCUL) by 37.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 150,132 shares of the biopharmaceutical company’s stock after selling 88,589 shares during the quarter. Morgan Stanley’s holdings in Ocular Therapeutix were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new position in Ocular Therapeutix during the 1st quarter valued at $121,000. Ikarian Capital LLC raised its stake in shares of Ocular Therapeutix by 120.3% in the 1st quarter. Ikarian Capital LLC now owns 1,558,936 shares of the biopharmaceutical company’s stock valued at $7,717,000 after buying an additional 851,277 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ocular Therapeutix by 14.9% in the 1st quarter. Geode Capital Management LLC now owns 656,651 shares of the biopharmaceutical company’s stock valued at $3,250,000 after buying an additional 85,232 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Ocular Therapeutix by 59.9% in the 1st quarter. Alliancebernstein L.P. now owns 92,600 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 34,700 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Ocular Therapeutix by 6.2% in the 1st quarter. Nuveen Asset Management LLC now owns 141,749 shares of the biopharmaceutical company’s stock valued at $701,000 after buying an additional 8,261 shares in the last quarter. Hedge funds and other institutional investors own 53.37% of the company’s stock.

Shares of NASDAQ OCUL opened at $7.84 on Friday. The firm has a market capitalization of $418.34 million, a PE ratio of -4.00 and a beta of 1.64. The firm’s 50-day moving average is $8.23 and its 200-day moving average is $6.19. Ocular Therapeutix Inc has a 1 year low of $2.46 and a 1 year high of $9.27.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings results on Friday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). The firm had revenue of $2.61 million during the quarter, compared to analyst estimates of $2.66 million. Ocular Therapeutix had a negative net margin of 1,430.64% and a negative return on equity of 6,659.51%. As a group, equities research analysts expect that Ocular Therapeutix Inc will post -1.09 EPS for the current year.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Ocular Therapeutix from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Tuesday, July 14th. BidaskClub cut shares of Ocular Therapeutix from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Piper Sandler increased their price objective on shares of Ocular Therapeutix from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of Ocular Therapeutix in a report on Wednesday, April 29th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $9.05.

In other news, major shareholder Summer Road Llc purchased 363,636 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $5.50 per share, for a total transaction of $1,999,998.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 7.70% of the company’s stock.

Ocular Therapeutix Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.

See Also: Diversification in Investing

Want to see what other hedge funds are holding OCUL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ocular Therapeutix Inc (NASDAQ:OCUL).

Institutional Ownership by Quarter for Ocular Therapeutix (NASDAQ:OCUL)

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