Ocular Therapeutix (NASDAQ:OCUL) Trading Down 9.2%

Ocular Therapeutix, Inc. (NASDAQ:OCUL)’s share price dropped 9.2% on Thursday . The stock traded as low as $6.88 and last traded at $6.88. Approximately 425,027 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,943,824 shares. The stock had previously closed at $7.58.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Ocular Therapeutix in a research note on Friday. Piper Sandler raised their target price on shares of Ocular Therapeutix from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. StockNews.com lowered shares of Ocular Therapeutix from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Bank of America initiated coverage on shares of Ocular Therapeutix in a report on Friday, February 9th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $24.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Ocular Therapeutix Stock Down 10.9 %

The business has a fifty day moving average of $8.76 and a 200 day moving average of $5.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 6.59 and a current ratio of 6.66.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). Ocular Therapeutix had a negative net margin of 138.15% and a negative return on equity of 321.12%. The firm had revenue of $14.80 million during the quarter, compared to analysts’ expectations of $15.31 million. On average, equities analysts predict that Ocular Therapeutix, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Summer Road Llc acquired 930,851 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the acquisition, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ocular Therapeutix news, CEO Antony C. Mattessich sold 18,338 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.95, for a total transaction of $90,773.10. Following the completion of the transaction, the chief executive officer now owns 427,943 shares of the company’s stock, valued at $2,118,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Summer Road Llc purchased 930,851 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $7.52 per share, for a total transaction of $6,999,999.52. Following the completion of the transaction, the insider now owns 8,591,401 shares in the company, valued at $64,607,335.52. The disclosure for this purchase can be found here. Insiders sold a total of 39,366 shares of company stock worth $194,862 in the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in shares of Ocular Therapeutix by 7.6% in the first quarter. Swiss National Bank now owns 172,100 shares of the biopharmaceutical company’s stock worth $852,000 after acquiring an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ocular Therapeutix by 22.9% in the 1st quarter. JPMorgan Chase & Co. now owns 45,254 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 8,439 shares in the last quarter. Bank of Montreal Can purchased a new stake in Ocular Therapeutix during the 1st quarter valued at about $1,080,000. Panagora Asset Management Inc. increased its stake in Ocular Therapeutix by 184.0% during the 1st quarter. Panagora Asset Management Inc. now owns 85,424 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 55,346 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Ocular Therapeutix by 9.5% during the 1st quarter. Cetera Investment Advisers now owns 566,750 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 49,000 shares in the last quarter. 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.