Truist Financial Corp Acquires Shares of 50,000 Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Truist Financial Corp acquired a new stake in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 50,000 shares of the biopharmaceutical company’s stock, valued at approximately $427,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ocular Therapeutix by 22.0% during 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 purchasing an additional 1,015 shares during the last quarter. HighVista Strategies LLC lifted its holdings in shares of Ocular Therapeutix by 5.1% in the 3rd quarter. HighVista Strategies LLC now owns 65,027 shares of the biopharmaceutical company’s stock valued at $566,000 after acquiring an additional 3,168 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after acquiring an additional 3,347 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Ocular Therapeutix by 2.7% in the 4th quarter. Rhumbline Advisers now owns 213,601 shares of the biopharmaceutical company’s stock valued at $1,824,000 after acquiring an additional 5,682 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Ocular Therapeutix in the 3rd quarter valued at about $70,000. Institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insiders Place Their Bets

In other news, insider Donald Notman sold 6,301 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now directly owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. This trade represents a 2.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the transaction, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,895 shares of company stock valued at $283,772 over the last 90 days. Insiders own 3.50% of the company’s stock.

Ocular Therapeutix Stock Up 9.6 %

Shares of NASDAQ OCUL opened at $6.50 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a market cap of $1.02 billion, a P/E ratio of -4.92 and a beta of 1.22. Ocular Therapeutix, Inc. has a 1 year low of $4.06 and a 1 year high of $11.78. The firm has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $8.90.

Ocular Therapeutix (NASDAQ:OCUL) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. Research analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Ocular Therapeutix Company 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.