Ocular Therapeutix (NASDAQ:OCUL) Trading 3.3% Higher – Here’s Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $6.08 and last traded at $6.13. 252,184 shares were traded during trading, a decline of 84% from the average session volume of 1,553,186 shares. The stock had previously closed at $5.93.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research report on Tuesday. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Ocular Therapeutix Trading Up 9.0 %

The firm’s 50 day moving average is $7.84 and its 200 day moving average is $8.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The company has a market cap of $1.02 billion, a PE ratio of -4.88 and a beta of 1.22.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly 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 firm had revenue of $17.08 million for the quarter, compared to analysts’ expectations of $16.89 million. Ocular Therapeutix had a negative net margin of 283.74% and a negative return on equity of 45.18%. On average, equities analysts anticipate that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Ocular Therapeutix

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Ocular Therapeutix during the fourth quarter worth about $28,000. Atlas Capital Advisors Inc. bought a new stake in Ocular Therapeutix in the 4th quarter worth approximately $43,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Ocular Therapeutix by 22.0% in 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 during the last quarter. AlphaQuest LLC purchased a new stake in Ocular Therapeutix in the fourth quarter worth approximately $53,000. Finally, Capital Performance Advisors LLP bought a new position in Ocular Therapeutix during the third quarter valued at approximately $70,000. 59.21% of the stock is owned by institutional investors.

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.