Principal Financial Group Inc. Sells 11,803 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Principal Financial Group Inc. lessened its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 44.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,561 shares of the biopharmaceutical company’s stock after selling 11,803 shares during the period. Principal Financial Group Inc.’s holdings in Ocular Therapeutix were worth $127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atlas Capital Advisors LLC acquired a new stake in shares of Ocular Therapeutix in the second quarter valued at approximately $34,000. Amalgamated Bank boosted its position 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 buying an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 1,015 shares during the period. Algert Global LLC bought a new stake in shares of Ocular Therapeutix during the second quarter worth $69,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Ocular Therapeutix during the first quarter valued at $94,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OCUL has been the subject of several analyst reports. Scotiabank started coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target for the company. Robert W. Baird lowered 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, HC Wainwright upped their target price on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Ocular Therapeutix Stock Up 7.3 %

Shares of NASDAQ OCUL opened at $9.75 on Wednesday. Ocular Therapeutix, Inc. has a 52-week low of $2.14 and a 52-week high of $11.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The stock has a market cap of $1.53 billion, a P/E ratio of -7.39 and a beta of 1.26. The firm has a 50 day moving average price of $9.90 and a 200 day moving average price of $8.17.

About Ocular Therapeutix

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.