Essex Investment Management Co. LLC Sells 56,429 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Essex Investment Management Co. LLC trimmed its position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 387,248 shares of the biopharmaceutical company's stock after selling 56,429 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.25% of Ocular Therapeutix worth $3,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $182,000. Capital Performance Advisors LLP bought a new position in shares of Ocular Therapeutix during the third quarter valued at $70,000. GSA Capital Partners LLP acquired a new position in shares of Ocular Therapeutix during the third quarter worth $1,102,000. Intech Investment Management LLC bought a new stake in shares of Ocular Therapeutix in the third quarter worth $422,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Ocular Therapeutix by 146.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company's stock valued at $9,661,000 after purchasing an additional 660,080 shares during the period. 59.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

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Ocular Therapeutix Trading Down 6.5 %

Shares of OCUL stock traded down $0.55 during mid-day trading on Thursday, hitting $7.88. The company's stock had a trading volume of 1,397,753 shares, compared to its average volume of 1,550,484. The company's fifty day simple moving average is $7.72 and its 200-day simple moving average is $8.84. Ocular Therapeutix, Inc. has a 52 week low of $4.06 and a 52 week high of $11.78. The company has a market cap of $1.25 billion, a PE ratio of -5.97 and a beta of 1.34. 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 - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) 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 company had revenue of $17.08 million for the quarter, compared to analyst estimates of $16.89 million. As a group, equities research analysts expect that Ocular Therapeutix, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OCUL has been the topic of several recent research reports. Needham & Company LLC assumed coverage on Ocular Therapeutix in a report on Tuesday. They set a "buy" rating and a $15.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. Finally, JMP Securities set a $19.00 price objective on Ocular Therapeutix in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Ocular Therapeutix presently has an average rating of "Moderate Buy" and a consensus target price of $16.29.

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.