Ocular Therapeutix (NASDAQ:OCUL) Stock Price Down 2.5% – What’s Next?

Ocular Therapeutix, Inc. (NASDAQ:OCUL) dropped 2.5% during mid-day trading on Tuesday . The stock traded as low as $8.30 and last traded at $8.35. Approximately 117,335 shares changed hands during trading, a decline of 93% from the average daily volume of 1,756,840 shares. The stock had previously closed at $8.56.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OCUL shares. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Ocular Therapeutix in a research note on Tuesday, December 3rd. Scotiabank assumed coverage on Ocular Therapeutix in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Ocular Therapeutix Trading Down 2.7 %

The firm has a market cap of $1.31 billion, a P/E ratio of -6.31 and a beta of 1.20. The company’s 50 day moving average is $9.91 and its two-hundred day moving average is $8.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 13.01 and a quick ratio of 12.94.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $9.01, for a total value of $26,561.48. Following the sale, the insider now owns 269,059 shares of the company’s stock, valued at $2,424,221.59. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Ocular Therapeutix

Several institutional investors have recently made changes to their positions in OCUL. Atlas Capital Advisors LLC bought a new position in Ocular Therapeutix during the second quarter worth about $34,000. Amalgamated Bank raised its holdings in shares of Ocular Therapeutix by 37.9% in the 2nd quarter. Amalgamated Bank now owns 5,384 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ocular Therapeutix by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,639 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 1,015 shares during the period. Algert Global LLC acquired a new stake in Ocular Therapeutix in the 2nd quarter valued at $69,000. Finally, Capital Performance Advisors LLP acquired a new stake in Ocular Therapeutix in the 3rd quarter valued at $70,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

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.