Palumbo Wealth Management LLC Invests $100,000 in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Palumbo Wealth Management LLC bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,693 shares of the biopharmaceutical company’s stock, valued at approximately $100,000.

A number of other hedge funds also recently added to or reduced their stakes in OCUL. Creative Planning acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $182,000. Assenagon Asset Management S.A. acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $24,584,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ocular Therapeutix by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 1,015 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Ocular Therapeutix by 64.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,989 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 11,793 shares in the last quarter. Finally, Deltec Asset Management LLC lifted its holdings in Ocular Therapeutix by 0.4% during the 3rd quarter. Deltec Asset Management LLC now owns 2,600,073 shares of the biopharmaceutical company’s stock worth $22,621,000 after buying an additional 9,808 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Price Performance

Shares of OCUL opened at $7.28 on Monday. Ocular Therapeutix, Inc. has a twelve month low of $4.06 and a twelve month high of $11.77. The firm’s fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.98. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.52 and a beta of 1.22. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a report on Tuesday, December 3rd. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Insider Activity

In related news, insider Donald Notman sold 11,119 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total value of $86,839.39. Following the transaction, the insider now directly owns 193,444 shares of the company’s stock, valued at $1,510,797.64. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey S. Heier sold 2,948 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the transaction, the insider now directly owns 269,059 shares in the company, valued at $2,424,221.59. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,368 shares of company stock worth $162,801. 3.50% of the stock is currently owned by corporate insiders.

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.