Cibc World Markets Corp Makes New Investment in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Cibc World Markets Corp purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,562 shares of the biopharmaceutical company’s stock, valued at approximately $124,000.

Several other hedge funds have also made changes to their positions in the business. AlphaQuest LLC acquired a new position in Ocular Therapeutix in the fourth quarter valued at $53,000. Palumbo Wealth Management LLC acquired a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $100,000. Aigen Investment Management LP acquired a new position in shares of Ocular Therapeutix during the 4th quarter valued at about $159,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ocular Therapeutix by 11.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock worth $285,000 after acquiring an additional 3,347 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Ocular Therapeutix in the third quarter worth approximately $422,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the firm’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $7.84, for a total value of $49,399.84. Following the sale, the insider now owns 204,563 shares in the company, valued at $1,603,773.92. This represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,895 shares of company stock valued at $283,772. Corporate insiders own 3.50% of the company’s stock.

Ocular Therapeutix Trading Up 1.0 %

NASDAQ:OCUL opened at $7.75 on Friday. The business’s 50-day moving average is $7.54 and its two-hundred day moving average is $8.76. The firm has a market capitalization of $1.23 billion, a PE ratio of -5.87 and a beta of 1.34. Ocular Therapeutix, Inc. has a 12 month low of $4.06 and a 12 month high of $11.78. 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 the consensus estimate of ($0.24) by ($0.05). The company 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%. Research analysts predict that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on OCUL shares. Royal Bank of Canada assumed coverage on shares of Ocular Therapeutix in a research report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 price target for the company. Needham & Company LLC initiated coverage on Ocular Therapeutix in a research report on Tuesday, March 11th. They issued a “buy” rating and a $15.00 target price on the stock. JMP Securities set a $19.00 target price on Ocular Therapeutix in a report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

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.