Truist Financial Corp Takes Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Truist Financial Corp acquired a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the biopharmaceutical company's stock, valued at approximately $427,000.

A number of other institutional investors also recently bought and sold shares of the business. Palumbo Wealth Management LLC acquired a new position in shares of Ocular Therapeutix in the fourth quarter valued at approximately $100,000. Rhumbline Advisers increased its stake in Ocular Therapeutix by 2.7% in the 4th quarter. Rhumbline Advisers now owns 213,601 shares of the biopharmaceutical company's stock valued at $1,824,000 after buying an additional 5,682 shares during the period. Deltec Asset Management LLC increased its stake in 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 valued at $22,344,000 after buying an additional 16,300 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Ocular Therapeutix by 11.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company's stock valued at $285,000 after buying an additional 3,347 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Ocular Therapeutix by 58.7% during the fourth quarter. SG Americas Securities LLC now owns 71,698 shares of the biopharmaceutical company's stock worth $612,000 after acquiring an additional 26,511 shares during the period. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, insider Pravin Dugel sold 21,475 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald Notman sold 6,301 shares of Ocular Therapeutix stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $7.84, for a total transaction of $49,399.84. Following the sale, the insider now owns 204,563 shares of the company's stock, valued at approximately $1,603,773.92. This trade represents a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,895 shares of company stock worth $283,772 over the last ninety days. 3.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Ocular Therapeutix Price Performance

OCUL traded up $0.20 on Friday, hitting $7.54. 1,384,888 shares of the company were exchanged, compared to its average volume of 1,554,632. The firm has a market capitalization of $1.19 billion, a P/E ratio of -5.71 and a beta of 1.22. 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 business's fifty day moving average is $7.74 and its 200 day moving average is $8.86. Ocular Therapeutix, Inc. has a fifty-two week low of $4.06 and a fifty-two week high of $11.78.

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

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.