Legato Capital Management LLC Reduces Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Legato Capital Management LLC cut its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,820 shares of the biopharmaceutical company's stock after selling 34,695 shares during the quarter. Legato Capital Management LLC owned about 0.07% of Ocular Therapeutix worth $981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ocular Therapeutix by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 1,015 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Ocular Therapeutix in the third quarter worth $70,000. Creative Planning bought a new stake in Ocular Therapeutix during the third quarter valued at $182,000. China Universal Asset Management Co. Ltd. grew its position in Ocular Therapeutix by 64.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,989 shares of the biopharmaceutical company's stock worth $261,000 after buying an additional 11,793 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Ocular Therapeutix in the 3rd quarter worth about $393,000. 59.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Insider Buying and Selling

In other news, insider Donald Notman sold 11,119 shares of Ocular Therapeutix stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the transaction, the insider now owns 193,444 shares in the company, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey S. Heier sold 2,948 shares of the firm's stock in a transaction that occurred 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 owns 269,059 shares in the company, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,368 shares of company stock worth $162,801 in the last 90 days. 3.50% of the stock is owned by company insiders.

Ocular Therapeutix Price Performance

Shares of NASDAQ OCUL traded down $0.20 during trading hours on Monday, reaching $7.28. 1,401,769 shares of the stock traded hands, compared to its average volume of 906,225. Ocular Therapeutix, Inc. has a 52-week low of $4.06 and a 52-week high of $11.77. 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 company's 50-day simple moving average is $8.23 and its two-hundred day simple moving average is $8.98. The company has a market capitalization of $1.14 billion, a P/E ratio of -5.52 and a beta of 1.22.

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.