Ocular Therapeutix (NASDAQ:OCUL) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.03 and traded as low as $7.76. Ocular Therapeutix shares last traded at $7.89, with a volume of 929,749 shares trading hands.

Analyst Upgrades and Downgrades

OCUL has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. Scotiabank assumed 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 for the company. 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. Based on data from MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Stock Performance

The stock has a market capitalization of $1.24 billion, a PE ratio of -5.98 and a beta of 1.23. The business has a 50 day moving average price of $8.76 and a 200 day moving average price of $9.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the completion of the transaction, the insider now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocular Therapeutix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Ocular Therapeutix by 146.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock valued at $9,661,000 after buying an additional 660,080 shares during the last quarter. Patient Square Capital LP purchased a new position in Ocular Therapeutix during the 3rd quarter valued at $2,049,000. Polar Asset Management Partners Inc. bought a new position in Ocular Therapeutix in the 3rd quarter valued at $4,288,000. SG Americas Securities LLC purchased a new stake in Ocular Therapeutix in the third quarter worth $393,000. Finally, Marshall Wace LLP bought a new stake in shares of Ocular Therapeutix during the second quarter worth $2,938,000. Hedge funds and other institutional investors 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.