Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 2.8% Following Insider Selling

Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares were down 2.8% during trading on Wednesday following insider selling activity. The company traded as low as $9.42 and last traded at $9.48. Approximately 128,537 shares were traded during trading, a decline of 93% from the average daily volume of 1,828,784 shares. The stock had previously closed at $9.75.

Specifically, insider Jeffrey S. Heier sold 2,948 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the transaction, the insider now directly owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HC Wainwright increased their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Robert W. Baird reduced their target price on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Scotiabank began coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Price Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -7.39 and a beta of 1.26. 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 business’s fifty day moving average price is $9.92 and its 200 day moving average price is $8.19.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently modified their holdings of the company. Atlas Capital Advisors LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at $34,000. Amalgamated Bank lifted its stake in shares of Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 1,481 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 1,015 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Ocular Therapeutix during the 3rd quarter valued at approximately $70,000. Finally, Algert Global LLC bought a new position in Ocular Therapeutix during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

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.