HighVista Strategies LLC Invests $423,000 in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

HighVista Strategies LLC purchased a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 61,859 shares of the biopharmaceutical company’s stock, valued at approximately $423,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in shares of Ocular Therapeutix during the second quarter valued at approximately $34,000. Amalgamated Bank raised its stake in Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. Trust Co. of Vermont lifted its holdings in Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Ocular Therapeutix during the 4th quarter worth $45,000. Finally, Bayesian Capital Management LP acquired a new stake in Ocular Therapeutix during the 1st quarter worth $94,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $8.98 on Monday. The firm has a market cap of $1.39 billion, a PE ratio of -6.65 and a beta of 1.28. The company has a quick ratio of 16.55, a current ratio of 16.64 and a debt-to-equity ratio of 0.18. Ocular Therapeutix, Inc. has a 52 week low of $2.00 and a 52 week high of $11.31. The business’s fifty day simple moving average is $8.43 and its 200-day simple moving average is $7.42.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The firm had revenue of $16.40 million during the quarter, compared to analysts’ expectations of $15.85 million. During the same quarter in the prior year, the firm posted ($0.27) EPS. Ocular Therapeutix’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Analyst Ratings Changes

OCUL has been the topic of several research reports. TD Cowen downgraded shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 21st. Finally, Robert W. Baird lowered their price objective on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

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-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.