Assenagon Asset Management S.A. Sells 148,100 Shares of Ocular Therapeutix, Inc. $OCUL

Assenagon Asset Management S.A. decreased its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 76.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,600 shares of the biopharmaceutical company’s stock after selling 148,100 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ocular Therapeutix were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in Ocular Therapeutix by 44.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,200,000 shares of the biopharmaceutical company’s stock valued at $38,116,000 after buying an additional 1,600,000 shares in the last quarter. Deltec Asset Management LLC raised its stake in shares of 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 valued at $25,937,000 after acquiring an additional 78,519 shares during the last quarter. Invesco Ltd. raised its stake in shares of Ocular Therapeutix by 91.2% in the second quarter. Invesco Ltd. now owns 1,538,846 shares of the biopharmaceutical company’s stock valued at $14,280,000 after acquiring an additional 734,017 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Ocular Therapeutix in the 1st quarter worth approximately $9,632,000. Finally, Raymond James Financial Inc. grew its position in Ocular Therapeutix by 142.8% during the 2nd quarter. Raymond James Financial Inc. now owns 884,381 shares of the biopharmaceutical company’s stock worth $8,207,000 after acquiring an additional 520,138 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insider Activity at Ocular Therapeutix

In other Ocular Therapeutix news, insider Peter Kaiser sold 9,653 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.03, for a total value of $106,472.59. Following the transaction, the insider owned 194,440 shares of the company’s stock, valued at approximately $2,144,673.20. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey S. Heier sold 10,502 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $11.04, for a total value of $115,942.08. Following the transaction, the insider owned 249,409 shares in the company, valued at approximately $2,753,475.36. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,287 shares of company stock worth $359,784. 2.30% of the stock is owned by insiders.

Ocular Therapeutix Price Performance

Shares of OCUL stock opened at $12.71 on Friday. The firm’s 50 day moving average price is $12.28 and its two-hundred day moving average price is $11.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.78 and a current ratio of 7.85. Ocular Therapeutix, Inc. has a 52-week low of $5.78 and a 52-week high of $16.44. The stock has a market cap of $2.71 billion, a PE ratio of -8.83 and a beta of 0.96.

Ocular Therapeutix (NASDAQ:OCUL) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company had revenue of $14.54 million during the quarter, compared to analysts’ expectations of $14.57 million. Ocular Therapeutix had a negative net margin of 447.57% and a negative return on equity of 86.33%. As a group, analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

Analysts Set New Price Targets

OCUL has been the subject of several research analyst reports. Zacks Research upgraded Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Wall Street Zen lowered Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Ocular Therapeutix in a report on Monday, December 8th. HC Wainwright increased their price objective on shares of Ocular Therapeutix from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Ocular Therapeutix Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.