Adage Capital Partners GP L.L.C. Trims Stock Holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Adage Capital Partners GP L.L.C. cut its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600,000 shares of the biopharmaceutical company's stock after selling 150,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 2.29% of Ocular Therapeutix worth $30,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of OCUL. Hsbc Holdings PLC grew its position in shares of Ocular Therapeutix by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,101 shares of the biopharmaceutical company's stock valued at $152,000 after buying an additional 5,853 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Ocular Therapeutix by 2,045.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,859 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 8,446 shares during the period. MetLife Investment Management LLC lifted its position in Ocular Therapeutix by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 92,734 shares of the biopharmaceutical company's stock worth $792,000 after acquiring an additional 2,454 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at approximately $1,819,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Ocular Therapeutix by 152.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 30,227 shares of the biopharmaceutical company's stock valued at $258,000 after acquiring an additional 18,251 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Donald Notman sold 11,119 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the sale, the insider now directly owns 193,444 shares of the company's stock, valued at $1,510,797.64. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pravin Dugel sold 21,475 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 3,520,318 shares of the company's stock, valued at approximately $24,184,584.66. This trade represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock valued at $283,772 in the last ninety days. 3.50% of the stock is owned by company insiders.

Ocular Therapeutix Trading Up 1.0 %

OCUL traded up $0.08 during trading on Tuesday, hitting $8.21. 891,416 shares of the stock traded hands, compared to its average volume of 1,476,658. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94. The firm has a 50-day moving average of $7.27 and a 200 day moving average of $8.45. The firm has a market capitalization of $1.31 billion, a P/E ratio of -6.22 and a beta of 1.49. Ocular Therapeutix, Inc. has a 12-month low of $4.62 and a 12-month high of $11.78.

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

Wall Street Analysts Forecast Growth

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

Ocular Therapeutix Company 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.