Tri Locum Partners LP Makes New $3.52 Million Investment in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Tri Locum Partners LP purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 514,642 shares of the biopharmaceutical company’s stock, valued at approximately $3,520,000. Ocular Therapeutix accounts for approximately 0.9% of Tri Locum Partners LP’s investment portfolio, making the stock its 21st biggest holding. Tri Locum Partners LP owned approximately 0.33% of Ocular Therapeutix at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OCUL. Atlas Capital Advisors LLC acquired a new position in Ocular Therapeutix in the second quarter valued at $34,000. Amalgamated Bank boosted its position in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,481 shares during the period. Trust Co. of Vermont grew its stake in shares of Ocular Therapeutix by 20.0% in the fourth quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ocular Therapeutix during the 4th quarter valued at about $45,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Ocular Therapeutix during the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $8.98 on Monday. Ocular Therapeutix, Inc. has a 52 week low of $2.00 and a 52 week high of $11.31. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -6.65 and a beta of 1.28. The stock has a 50 day moving average of $8.43 and a 200-day moving average of $7.42.

Ocular Therapeutix (NASDAQ:OCUL) last announced 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 return on equity of 52.75% and a negative net margin of 226.46%. The firm had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.85 million. During the same quarter last year, the business earned ($0.27) earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Ocular Therapeutix, Inc. will post -1.02 EPS for the current year.

Analysts Set New Price Targets

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