Ocular Therapeutix, Inc. (NASDAQ:OCUL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 44.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Ocular Therapeutix by 146.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after purchasing an additional 660,080 shares during the period. Rhumbline Advisers raised its position in shares of Ocular Therapeutix by 39.1% in the second quarter. Rhumbline Advisers now owns 211,301 shares of the biopharmaceutical company’s stock worth $1,445,000 after acquiring an additional 59,345 shares during the period. Patient Square Capital LP acquired a new position in shares of Ocular Therapeutix in the third quarter worth about $2,049,000. Bank of New York Mellon Corp boosted its stake in shares of Ocular Therapeutix by 49.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 495,635 shares of the biopharmaceutical company’s stock worth $3,390,000 after acquiring an additional 164,383 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Ocular Therapeutix during the 3rd quarter valued at about $4,288,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OCUL shares. Scotiabank assumed coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Ocular Therapeutix Stock Up 2.3 %

Shares of OCUL opened at $9.08 on Wednesday. The stock has a 50 day moving average price of $9.39 and a 200 day moving average price of $8.90. 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 capitalization of $1.43 billion, a price-to-earnings ratio of -6.88 and a beta of 1.23. Ocular Therapeutix, Inc. has a one year low of $3.76 and a one year high of $11.77.

Insider Transactions at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 2,948 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the sale, the insider now directly owns 269,059 shares in the company, valued at $2,424,221.59. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.50% 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.