Geode Capital Management LLC Has $27.64 Million Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Geode Capital Management LLC cut its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,236,312 shares of the biopharmaceutical company’s stock after selling 34,895 shares during the quarter. Geode Capital Management LLC owned 2.06% of Ocular Therapeutix worth $27,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in Ocular Therapeutix in the fourth quarter valued at approximately $53,000. Palumbo Wealth Management LLC bought a new position in shares of Ocular Therapeutix in the 4th quarter valued at $100,000. Cibc World Markets Corp acquired a new position in shares of Ocular Therapeutix during the 4th quarter worth $124,000. KLP Kapitalforvaltning AS bought a new stake in shares of Ocular Therapeutix during the 4th quarter worth $149,000. Finally, Aigen Investment Management LP acquired a new stake in Ocular Therapeutix in the fourth quarter valued at about $159,000. Institutional investors own 59.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OCUL shares. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. JMP Securities set a $19.00 target price on Ocular Therapeutix in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, April 8th. Royal Bank of Canada began coverage on Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Finally, William Blair began coverage on Ocular Therapeutix in a research report on Tuesday, April 8th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Stock Performance

OCUL stock opened at $7.31 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of -5.54 and a beta of 1.49. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $7.22 and a 200-day moving average price of $8.54. Ocular Therapeutix, Inc. has a 1-year low of $4.06 and a 1-year high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In related news, insider Donald Notman sold 6,301 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the transaction, the insider now directly owns 204,563 shares of the company’s stock, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $6.87, for a total value of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,895 shares of company stock worth $283,772 in the last quarter. 3.50% of the stock is owned by corporate insiders.

Ocular Therapeutix 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.