Dark Forest Capital Management LP Sells 8,011 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Dark Forest Capital Management LP cut its position in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 39.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,383 shares of the biopharmaceutical company’s stock after selling 8,011 shares during the period. Dark Forest Capital Management LP’s holdings in Ocular Therapeutix were worth $85,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Vermont increased its position in shares of Ocular Therapeutix by 20.0% in the 4th quarter. Trust Co. of Vermont now owns 6,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. Amalgamated Bank grew its stake 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 acquiring an additional 1,481 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Ocular Therapeutix by 39.4% in the first quarter. Ameritas Investment Partners Inc. now owns 11,531 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 3,257 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ocular Therapeutix by 36.9% during the second quarter. Victory Capital Management Inc. now owns 17,403 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 4,695 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in shares of Ocular Therapeutix during the 2nd quarter valued at about $34,000. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Stock Performance

OCUL opened at $8.70 on Tuesday. The firm has a market capitalization of $1.35 billion, a PE ratio of -6.44 and a beta of 1.28. Ocular Therapeutix, Inc. has a 52-week low of $2.00 and a 52-week high of $11.31. The business’s 50-day simple moving average is $8.49 and its 200 day simple moving average is $7.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 16.55 and a current ratio of 16.64.

Ocular Therapeutix (NASDAQ:OCUL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative return on equity of 52.75% and a negative net margin of 226.46%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts expect that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

OCUL has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Ocular Therapeutix in a research note on Thursday, August 1st. Robert W. Baird lowered their price objective on shares of Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Ocular Therapeutix in a research report on Friday, June 21st. Finally, TD Cowen lowered shares of Ocular Therapeutix from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.67.

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.