Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Bought by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC increased its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,060,000 shares of the biopharmaceutical company’s stock after acquiring an additional 911,064 shares during the period. Ocular Therapeutix makes up 0.7% of Avoro Capital Advisors LLC’s portfolio, making the stock its 26th biggest position. Avoro Capital Advisors LLC owned approximately 5.20% of Ocular Therapeutix worth $55,130,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. HighVista Strategies LLC acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $423,000. Profund Advisors LLC increased its position in Ocular Therapeutix by 263.9% in the 2nd quarter. Profund Advisors LLC now owns 43,182 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 31,314 shares during the period. Amalgamated Bank raised its stake in Ocular Therapeutix by 37.9% during the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,481 shares in the last quarter. Arizona State Retirement System bought a new stake in Ocular Therapeutix during the 2nd quarter valued at $193,000. Finally, Victory Capital Management Inc. boosted its position in Ocular Therapeutix by 36.9% during the 2nd quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 4,695 shares during the period. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Trading Down 0.7 %

OCUL stock opened at $8.98 on Monday. The business has a fifty day moving average price of $8.43 and a 200 day moving average price of $7.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55. Ocular Therapeutix, Inc. has a fifty-two week low of $2.00 and a fifty-two week high of $11.31. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -6.65 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OCUL. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Ocular Therapeutix in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a report on Friday, June 21st. Robert W. Baird reduced their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen downgraded Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Ocular Therapeutix presently 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.