Mirae Asset Global Investments Co. Ltd. Purchases 893 Shares of Ocular Therapeutix, Inc. $OCUL

Mirae Asset Global Investments Co. Ltd. increased its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,154 shares of the biopharmaceutical company’s stock after purchasing an additional 893 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ocular Therapeutix were worth $57,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deltec Asset Management LLC lifted its position in Ocular Therapeutix by 2.9% in the second quarter. Deltec Asset Management LLC now owns 2,794,892 shares of the biopharmaceutical company’s stock worth $25,937,000 after purchasing an additional 78,519 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Ocular Therapeutix by 16.1% during the 2nd quarter. Trust Co. of Vermont now owns 7,200 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,000 shares during the period. Truist Financial Corp lifted its holdings in shares of Ocular Therapeutix by 100.0% during the 2nd quarter. Truist Financial Corp now owns 100,000 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 50,000 shares during the period. Rhumbline Advisers lifted its stake in Ocular Therapeutix by 4.5% during the first quarter. Rhumbline Advisers now owns 223,115 shares of the biopharmaceutical company’s stock worth $1,635,000 after purchasing an additional 9,514 shares during the period. Finally, Caxton Associates LLP bought a new position in Ocular Therapeutix during the first quarter worth about $248,000. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Stock Performance

OCUL stock opened at $11.78 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 10.10 and a quick ratio of 10.02. The company has a 50 day moving average price of $12.28 and a 200 day moving average price of $9.89. Ocular Therapeutix, Inc. has a fifty-two week low of $5.78 and a fifty-two week high of $13.85. The stock has a market capitalization of $2.05 billion, a PE ratio of -9.20 and a beta of 1.45.

Ocular Therapeutix (NASDAQ:OCUL) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). The firm had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.12 million. Ocular Therapeutix had a negative return on equity of 71.92% and a negative net margin of 382.51%.The company’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. Analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on OCUL. Scotiabank cut their price target on shares of Ocular Therapeutix from $22.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th. HC Wainwright raised their target price on Ocular Therapeutix from $15.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup restated an “outperform” rating on shares of Ocular Therapeutix in a research report on Wednesday, October 1st. Robert W. Baird lifted their price objective on Ocular Therapeutix from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Finally, JMP Securities lifted their price objective on Ocular Therapeutix from $20.00 to $29.00 and gave the company a “market outperform” rating in a report on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.63.

Insider Buying and Selling at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 10,502 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $11.04, for a total transaction of $115,942.08. Following the completion of the sale, the insider directly owned 249,409 shares of the company’s stock, valued at $2,753,475.36. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Pravin Dugel sold 21,494 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $12.04, for a total transaction of $258,787.76. Following the sale, the insider owned 3,227,244 shares of the company’s stock, valued at $38,856,017.76. The trade was a 0.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,806 shares of company stock valued at $727,648. 2.30% of the stock is currently owned by corporate insiders.

About Ocular Therapeutix

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.