Essex Investment Management Co. LLC Cuts Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Essex Investment Management Co. LLC trimmed its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 387,248 shares of the biopharmaceutical company’s stock after selling 56,429 shares during the period. Essex Investment Management Co. LLC owned about 0.25% of Ocular Therapeutix worth $3,307,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. AlphaQuest LLC purchased a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $53,000. Raymond James Financial Inc. purchased a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $1,722,000. Aigen Investment Management LP purchased a new position in shares of Ocular Therapeutix during the 4th quarter worth approximately $159,000. Victory Capital Management Inc. raised its stake in shares of Ocular Therapeutix by 300.4% during the 4th quarter. Victory Capital Management Inc. now owns 68,871 shares of the biopharmaceutical company’s stock worth $588,000 after buying an additional 51,671 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Ocular Therapeutix by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,485 shares of the biopharmaceutical company’s stock worth $9,663,000 after buying an additional 21,025 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 6,301 shares of the stock in a transaction 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 sale, the insider now owns 204,563 shares in the company, valued at approximately $1,603,773.92. This represents a 2.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total value of $147,533.25. Following the sale, the insider now owns 3,520,318 shares in the company, 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. In the last 90 days, insiders have sold 38,895 shares of company stock worth $283,772. 3.50% of the stock is owned by insiders.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $7.54 on Friday. Ocular Therapeutix, Inc. has a 1-year low of $4.06 and a 1-year high of $11.78. The company has a market capitalization of $1.20 billion, a P/E ratio of -5.71 and a beta of 1.34. The business has a 50 day moving average price of $7.74 and a 200 day moving average price of $8.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Ocular Therapeutix (NASDAQ:OCUL) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The company had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. Sell-side analysts expect that Ocular Therapeutix, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and an average price target of $17.00.

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.