Acuta Capital Partners LLC Cuts Stock Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Acuta Capital Partners LLC lessened its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 57.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,190,071 shares of the biopharmaceutical company's stock after selling 1,581,059 shares during the quarter. Ocular Therapeutix makes up about 8.4% of Acuta Capital Partners LLC's investment portfolio, making the stock its 2nd largest holding. Acuta Capital Partners LLC owned about 0.76% of Ocular Therapeutix worth $10,354,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ocular Therapeutix by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 1,015 shares during the period. Essex Investment Management Co. LLC grew its stake in shares of Ocular Therapeutix by 0.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 443,677 shares of the biopharmaceutical company's stock worth $3,860,000 after buying an additional 1,168 shares during the last quarter. Amalgamated Bank increased its position in Ocular Therapeutix by 37.9% during the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock valued at $37,000 after buying an additional 1,481 shares in the last quarter. Victory Capital Management Inc. raised its stake in Ocular Therapeutix by 36.9% during the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 4,695 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Ocular Therapeutix in the second quarter worth $34,000. 59.21% of the stock is currently owned by institutional investors.

Ocular Therapeutix Stock Performance

Shares of OCUL traded up $0.31 during mid-day trading on Thursday, hitting $10.06. 1,011,509 shares of the company traded hands, compared to its average volume of 1,832,639. The stock has a 50-day moving average price of $9.94 and a two-hundred day moving average price of $8.21. Ocular Therapeutix, Inc. has a 1 year low of $2.16 and a 1 year high of $11.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 12.94 and a current ratio of 13.01. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -7.62 and a beta of 1.26.

Insider Activity at Ocular Therapeutix

In related news, insider Jeffrey S. Heier sold 2,948 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total value of $26,561.48. Following the transaction, the insider now directly owns 269,059 shares of the company's stock, valued at approximately $2,424,221.59. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on OCUL. HC Wainwright lifted their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Robert W. Baird decreased their target price on shares of Ocular Therapeutix from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Finally, Scotiabank initiated coverage on shares of Ocular Therapeutix in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

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.