Ocular Therapeutix (NASDAQ:OCUL) Shares Down 5.8% - Here's Why

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) traded down 5.8% during mid-day trading on Tuesday . The stock traded as low as $6.92 and last traded at $6.91. 175,407 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,539,508 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

OCUL has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and set a $15.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Royal Bank of Canada initiated coverage on shares of Ocular Therapeutix in a report on Tuesday, March 18th. They issued an "outperform" rating and a $17.00 target price for the company. JMP Securities set a $19.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, March 4th. Finally, Needham & Company LLC assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 11th. They issued a "buy" rating and a $15.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Ocular Therapeutix currently has a consensus rating of "Moderate Buy" and an average target price of $16.38.

Ocular Therapeutix Stock Down 9.1 %

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 company's fifty day moving average price is $7.42 and its 200-day moving average price is $8.69. The stock has a market cap of $1.01 billion, a P/E ratio of -4.82 and a beta of 1.49.

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

Insiders Place Their Bets

In related news, insider Donald Notman sold 11,119 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $7.81, for a total value of $86,839.39. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pravin Dugel sold 21,475 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 in the company, 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 a total of 38,895 shares of company stock worth $283,772 over the last quarter. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Ocular Therapeutix

Hedge funds have recently made changes to their positions in the company. Deep Track Capital LP raised its holdings in shares of Ocular Therapeutix by 0.9% in the fourth quarter. Deep Track Capital LP now owns 12,836,282 shares of the biopharmaceutical company's stock valued at $109,622,000 after acquiring an additional 114,822 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ocular Therapeutix by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,483,913 shares of the biopharmaceutical company's stock valued at $72,453,000 after purchasing an additional 99,730 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Ocular Therapeutix by 43.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,935,924 shares of the biopharmaceutical company's stock valued at $25,073,000 after purchasing an additional 895,304 shares in the last quarter. Deltec Asset Management LLC lifted its position in shares of Ocular Therapeutix by 0.6% in the 4th quarter. Deltec Asset Management LLC now owns 2,616,373 shares of the biopharmaceutical company's stock worth $22,344,000 after purchasing an additional 16,300 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Ocular Therapeutix by 26.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,334,702 shares of the biopharmaceutical company's stock valued at $11,398,000 after purchasing an additional 278,610 shares in the last quarter. 59.21% of the stock is currently owned by hedge funds and other 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.