Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Sold by Logos Global Management LP

Logos Global Management LP decreased its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 11.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,150,000 shares of the biopharmaceutical company’s stock after selling 661,436 shares during the quarter. Ocular Therapeutix accounts for about 2.8% of Logos Global Management LP’s investment portfolio, making the stock its 9th largest holding. Logos Global Management LP owned 3.32% of Ocular Therapeutix worth $35,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in OCUL. Avoro Capital Advisors LLC bought a new stake in shares of Ocular Therapeutix during the 1st quarter worth about $65,055,000. Franklin Resources Inc. acquired a new position in shares of Ocular Therapeutix during the 4th quarter worth about $20,071,000. Vanguard Group Inc. lifted its position in shares of Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after acquiring an additional 2,117,029 shares during the period. Rosalind Advisors Inc. bought a new stake in shares of Ocular Therapeutix in the 2nd quarter worth approximately $5,130,000. Finally, Great Point Partners LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter worth approximately $3,122,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Trading Down 5.8 %

NASDAQ OCUL opened at $8.46 on Tuesday. The stock has a 50-day simple moving average of $8.43 and a 200 day simple moving average of $7.41. The company has a market capitalization of $1.31 billion, a PE ratio of -6.27 and a beta of 1.28. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. Ocular Therapeutix, Inc. has a 12 month low of $2.00 and a 12 month high of $11.31.

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

Wall Street Analyst Weigh In

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