The Manufacturers Life Insurance Company Sells 2,399 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

The Manufacturers Life Insurance Company trimmed its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,803 shares of the biopharmaceutical company’s stock after selling 2,399 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ocular Therapeutix were worth $1,091,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Atlas Capital Advisors Inc. purchased a new position in shares of Ocular Therapeutix in the 4th quarter worth about $43,000. AlphaQuest LLC purchased a new position in Ocular Therapeutix in the fourth quarter worth about $53,000. Tower Research Capital LLC TRC lifted its stake in shares of Ocular Therapeutix by 2,045.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 8,446 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Ocular Therapeutix in the fourth quarter worth approximately $90,000. Finally, XTX Topco Ltd bought a new stake in shares of Ocular Therapeutix during the fourth quarter valued at approximately $99,000. 59.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OCUL has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. William Blair started coverage on Ocular Therapeutix in a report on Tuesday, April 8th. They issued an “outperform” rating for the company. Needham & Company LLC lowered their target price on shares of Ocular Therapeutix from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Royal Bank of Canada began coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $17.00 price target for the company. Finally, JMP Securities set a $19.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

Ocular Therapeutix Trading Down 5.3%

Shares of NASDAQ:OCUL opened at $7.00 on Wednesday. The stock’s 50-day simple moving average is $7.46 and its two-hundred day simple moving average is $8.23. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.30 and a beta of 1.51. Ocular Therapeutix, Inc. has a 52-week low of $4.79 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01.

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

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,475 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $24,184,584.66. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard L. Md Lindstrom acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $6.96 per share, for a total transaction of $69,600.00. Following the purchase, the director now directly owns 172,704 shares of the company’s stock, valued at approximately $1,202,019.84. This trade represents a 6.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.

About Ocular Therapeutix

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.