Ocular Therapeutix (NASDAQ:OCUL) Shares Down 2.5% - Time to Sell?

Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) shares traded down 2.5% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.35. 117,335 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,756,840 shares. The stock had previously closed at $8.56.

Analysts Set New Price Targets

A number of analysts have recently commented on OCUL shares. HC Wainwright reissued a "buy" rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, December 3rd. Scotiabank started coverage on Ocular Therapeutix in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.71.

Ocular Therapeutix Stock Down 2.7 %

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 firm has a 50 day moving average of $9.95 and a 200 day moving average of $8.65. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -6.31 and a beta of 1.20.

Insiders Place Their Bets

In related news, insider Jeffrey S. Heier sold 2,948 shares of Ocular Therapeutix stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OCUL. Atlas Capital Advisors LLC bought a new position in shares of Ocular Therapeutix during the second quarter valued at about $34,000. Amalgamated Bank lifted its position in Ocular Therapeutix by 37.9% in the second quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ocular Therapeutix by 22.0% during the third 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. Algert Global LLC bought a new position in shares of Ocular Therapeutix in the second quarter worth approximately $69,000. Finally, Capital Performance Advisors LLP bought a new stake in Ocular Therapeutix during the 3rd quarter valued at $70,000. 59.21% of the stock is currently owned by institutional investors.

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.