Principal Financial Group Inc. Sells 11,803 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Principal Financial Group Inc. cut its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 44.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,561 shares of the biopharmaceutical company’s stock after selling 11,803 shares during the quarter. Principal Financial Group Inc.’s holdings in Ocular Therapeutix were worth $127,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Avoro Capital Advisors LLC lifted its stake in Ocular Therapeutix by 12.7% in the second quarter. Avoro Capital Advisors LLC now owns 8,060,000 shares of the biopharmaceutical company’s stock valued at $55,130,000 after buying an additional 911,064 shares in the last quarter. Vanguard Group Inc. lifted its position in Ocular Therapeutix by 41.4% in the 1st quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock valued at $65,840,000 after acquiring an additional 2,117,029 shares in the last quarter. Opaleye Management Inc. lifted its position in Ocular Therapeutix by 9.6% in the 1st quarter. Opaleye Management Inc. now owns 6,653,138 shares of the biopharmaceutical company’s stock valued at $60,544,000 after acquiring an additional 583,138 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Ocular Therapeutix in the 3rd quarter worth $24,584,000. Finally, Point72 Asset Management L.P. bought a new position in Ocular Therapeutix during the 2nd quarter worth about $18,514,000. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Stock Up 7.3 %

OCUL stock opened at $9.75 on Wednesday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -7.39 and a beta of 1.26. Ocular Therapeutix, Inc. has a twelve month low of $2.14 and a twelve month high of $11.77. The business has a 50 day moving average price of $9.90 and a two-hundred day moving average price of $8.17. The company has a quick ratio of 12.94, a current ratio of 13.01 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OCUL shares. Robert W. Baird cut their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Scotiabank began coverage on shares of Ocular Therapeutix in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 price target for the company. Finally, HC Wainwright lifted their price objective on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

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.