Arizona State Retirement System Has $232,000 Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Arizona State Retirement System trimmed its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,121 shares of the biopharmaceutical company’s stock after selling 1,869 shares during the quarter. Arizona State Retirement System’s holdings in Ocular Therapeutix were worth $232,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Palumbo Wealth Management LLC bought a new position in shares of Ocular Therapeutix in the 4th quarter valued at $100,000. Aigen Investment Management LP acquired a new stake in Ocular Therapeutix in the fourth quarter valued at about $159,000. China Universal Asset Management Co. Ltd. raised its stake in Ocular Therapeutix by 11.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock worth $285,000 after acquiring an additional 3,347 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Ocular Therapeutix in the third quarter worth about $422,000. Finally, Truist Financial Corp acquired a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $427,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ocular Therapeutix

In related news, insider Donald Notman sold 6,301 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $7.84, for a total value of $49,399.84. Following the transaction, the insider now owns 204,563 shares in the company, valued at $1,603,773.92. The trade was a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,895 shares of company stock worth $283,772. Company insiders own 3.50% of the company’s stock.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $7.72 on Friday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.85 and a beta of 1.34. Ocular Therapeutix, Inc. has a twelve month low of $4.06 and a twelve month high of $11.78. The stock has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $8.82. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The company had revenue of $17.08 million for 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%. Sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

OCUL has been the subject of a number of research analyst reports. Needham & Company LLC assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 11th. They set a “buy” rating and a $15.00 price objective for the company. JMP Securities set a $19.00 price target on Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

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.