Geode Capital Management LLC Cuts Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Geode Capital Management LLC reduced its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 1.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,236,312 shares of the biopharmaceutical company’s stock after selling 34,895 shares during the quarter. Geode Capital Management LLC’s holdings in Ocular Therapeutix were worth $27,644,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. AlphaQuest LLC bought a new position in Ocular Therapeutix during the fourth quarter valued at about $53,000. Palumbo Wealth Management LLC purchased a new position in Ocular Therapeutix in the 4th quarter valued at approximately $100,000. Cibc World Markets Corp bought a new stake in Ocular Therapeutix during the 4th quarter valued at $124,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Ocular Therapeutix during the fourth quarter worth $149,000. Finally, Aigen Investment Management LP bought a new position in Ocular Therapeutix in the 4th quarter worth about $159,000. 59.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OCUL has been the topic of a number of recent analyst reports. JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research report on Tuesday, March 4th. William Blair assumed coverage on Ocular Therapeutix in a research note on Tuesday, April 8th. They set an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, April 8th. Royal Bank of Canada initiated coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Donald Notman sold 11,119 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the transaction, the insider now owns 193,444 shares in the company, valued at $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pravin Dugel sold 21,475 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $6.87, for a total transaction of $147,533.25. Following the sale, the insider now directly owns 3,520,318 shares in the company, valued at approximately $24,184,584.66. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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 2.0 %

NASDAQ OCUL opened at $7.31 on Friday. The stock’s 50 day moving average is $7.22 and its 200 day moving average is $8.54. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.16 billion, a PE ratio of -5.54 and a beta of 1.49. Ocular Therapeutix, Inc. has a twelve month low of $4.06 and a twelve month high of $11.78.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Research analysts forecast that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

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.