Nantahala Capital Management LLC Buys Shares of 1,000,000 Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Nantahala Capital Management LLC purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,000,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,840,000. Nantahala Capital Management LLC owned about 0.65% of Ocular Therapeutix as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Great Point Partners LLC bought a new position in Ocular Therapeutix during the fourth quarter worth $3,122,000. Artia Global Partners LP acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at about $1,962,000. Deltec Asset Management LLC boosted its position in shares of Ocular Therapeutix by 9.6% during the 2nd quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after purchasing an additional 226,181 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ocular Therapeutix by 1,142.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 662,672 shares of the biopharmaceutical company’s stock worth $6,031,000 after purchasing an additional 609,328 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after purchasing an additional 2,117,029 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Ocular Therapeutix Stock Up 0.2 %

Shares of NASDAQ OCUL opened at $8.70 on Tuesday. The business’s fifty day moving average price is $8.49 and its 200-day moving average price is $7.38. Ocular Therapeutix, Inc. has a one year low of $2.00 and a one year high of $11.31. The stock has a market capitalization of $1.35 billion, a PE ratio of -6.44 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results 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). The company had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) EPS. On average, equities research analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. Piper Sandler restated an “overweight” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Friday, June 21st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Ocular Therapeutix in a research report on Thursday, August 1st. Finally, Robert W. Baird cut their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

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.