Ocular Therapeutix Inc (NASDAQ:OCUL) rose 6.4% during trading on Friday . The company traded as high as $4.55 and last traded at $4.48, approximately 374,853 shares traded hands during trading. A decline of 45% from the average daily volume of 680,196 shares. The stock had previously closed at $4.21.
OCUL has been the topic of a number of recent analyst reports. JMP Securities set a $9.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a research note on Friday, June 21st. HC Wainwright set a $9.00 target price on Ocular Therapeutix and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut Ocular Therapeutix from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. ValuEngine upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Raymond James cut Ocular Therapeutix from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $11.00 to $5.00 in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.18.
The company has a debt-to-equity ratio of 7.06, a quick ratio of 6.39 and a current ratio of 6.46. The stock has a 50 day moving average price of $4.73 and a 200 day moving average price of $4.05.
In other news, CEO Antony C. Mattessich acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $2.81 per share, with a total value of $112,400.00. Following the acquisition, the chief executive officer now owns 97,900 shares in the company, valued at approximately $275,099. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael H. Goldstein acquired 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $2.51 per share, with a total value of $30,120.00. Following the acquisition, the insider now owns 25,686 shares in the company, valued at approximately $64,471.86. The disclosure for this purchase can be found here. In the last three months, insiders purchased 229,248 shares of company stock valued at $669,811. 16.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Deltec Asset Management LLC increased its holdings in Ocular Therapeutix by 13.8% in the 1st quarter. Deltec Asset Management LLC now owns 824,747 shares of the biopharmaceutical company’s stock worth $3,274,000 after acquiring an additional 100,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ocular Therapeutix by 15.2% in the 4th quarter. Geode Capital Management LLC now owns 350,673 shares of the biopharmaceutical company’s stock worth $1,395,000 after acquiring an additional 46,281 shares during the last quarter. Millennium Management LLC increased its holdings in Ocular Therapeutix by 31.3% in the 4th quarter. Millennium Management LLC now owns 210,273 shares of the biopharmaceutical company’s stock worth $837,000 after acquiring an additional 50,118 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Ocular Therapeutix during the 1st quarter valued at about $361,000. Finally, BlackRock Inc. grew its holdings in Ocular Therapeutix by 21.8% during the 4th quarter. BlackRock Inc. now owns 2,792,752 shares of the biopharmaceutical company’s stock valued at $11,115,000 after buying an additional 500,489 shares in the last quarter. 53.33% of the stock is owned by institutional investors.
About Ocular Therapeutix (NASDAQ:OCUL)
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 platform technology. The company markets ReSure Sealant, a hydrogel ophthalmic wound sealant to seal corneal incisions following cataract surgery.
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