Ocular Therapeutix, Inc. (NASDAQ:OCUL) was the target of a large decline in short interest during the month of January. As of January 13th, there was short interest totalling 4,777,117 shares, a decline of 8.6% from the December 30th total of 5,228,289 shares. Based on an average trading volume of 898,454 shares, the days-to-cover ratio is presently 5.3 days. Currently, 28.9% of the shares of the stock are short sold.
In other news, insider Amarpreet Sawhney acquired 45,300 shares of Ocular Therapeutix stock in a transaction on Thursday, December 15th. The shares were acquired at an average price of $7.85 per share, with a total value of $355,605.00. Following the purchase, the insider now directly owns 677,390 shares in the company, valued at approximately $5,317,511.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 30.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of OCUL. Trexquant Investment LP acquired a new position in shares of Ocular Therapeutix during the fourth quarter worth about $181,000. Alps Advisors Inc. increased its position in shares of Ocular Therapeutix by 25.1% in the second quarter. Alps Advisors Inc. now owns 34,792 shares of the biopharmaceutical company’s stock worth $172,000 after buying an additional 6,976 shares in the last quarter. California State Teachers Retirement System increased its position in Ocular Therapeutix by 15.7% in the second quarter. California State Teachers Retirement System now owns 37,539 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 5,089 shares during the period. Wells Fargo & Company MN increased its position in Ocular Therapeutix by 2.0% in the third quarter. Wells Fargo & Company MN now owns 38,680 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 752 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Ocular Therapeutix during the second quarter valued at $223,000. Institutional investors own 65.75% of the company’s stock.
A number of research firms have issued reports on OCUL. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Ocular Therapeutix in a research note on Sunday, October 23rd. Cantor Fitzgerald began coverage on Ocular Therapeutix in a research note on Thursday. They issued an “overweight” rating and a $35.00 price objective on the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Ocular Therapeutix in a research note on Tuesday, November 15th. Finally, Royal Bank Of Canada lifted their price objective on Ocular Therapeutix from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $20.19.
Ocular Therapeutix (NASDAQ:OCUL) opened at 8.45 on Friday. Ocular Therapeutix has a 52-week low of $4.04 and a 52-week high of $14.50. The company’s market cap is $210.23 million. The stock’s 50 day moving average price is $7.63 and its 200 day moving average price is $7.24.
Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.11. Ocular Therapeutix had a negative return on equity of 56.23% and a negative net margin of 2,346.47%. Analysts expect that Ocular Therapeutix will post ($1.74) earnings per share for the current year.
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Ocular Therapeutix Company Profile
Ocular Therapeutix, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies for diseases and conditions of the eye using its hydrogel platform technology. The Company’s bioresorbable hydrogel based product candidates are designed to provide sustained delivery of therapeutic agents to the eye.
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