Cibc World Markets Corp Invests $124,000 in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Cibc World Markets Corp purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 14,562 shares of the biopharmaceutical company’s stock, valued at approximately $124,000.

Several other large investors have also modified their holdings of the stock. AlphaQuest LLC acquired a new stake in Ocular Therapeutix during the fourth quarter valued at approximately $53,000. Palumbo Wealth Management LLC bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $100,000. Aigen Investment Management LP bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at approximately $159,000. China Universal Asset Management Co. Ltd. raised its position in shares of Ocular Therapeutix by 11.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 33,336 shares of the biopharmaceutical company’s stock valued at $285,000 after acquiring an additional 3,347 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Ocular Therapeutix during the third quarter worth $422,000. Institutional investors own 59.21% of the company’s stock.

Insider Transactions at Ocular Therapeutix

In other Ocular Therapeutix news, insider Donald Notman sold 11,119 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $7.81, for a total transaction of $86,839.39. Following the sale, the insider now directly owns 193,444 shares in the company, valued at approximately $1,510,797.64. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pravin Dugel sold 21,475 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $6.87, for a total transaction of $147,533.25. Following the completion of the sale, the insider now directly owns 3,520,318 shares of the company’s stock, valued at approximately $24,184,584.66. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,895 shares of company stock valued at $283,772. 3.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OCUL. Needham & Company LLC assumed coverage on shares of Ocular Therapeutix in a research note on Tuesday, March 11th. They set a “buy” rating and a $15.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ocular Therapeutix in a research report on Tuesday, March 4th. JMP Securities set a $19.00 target price on shares of Ocular Therapeutix in a report on Tuesday, March 4th. Finally, Royal Bank of Canada started coverage on Ocular Therapeutix in a report on Tuesday, March 18th. They set an “outperform” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Ocular Therapeutix Price Performance

NASDAQ OCUL opened at $7.75 on Friday. The company has a 50-day moving average price of $7.54 and a two-hundred day moving average price of $8.76. Ocular Therapeutix, Inc. has a 52 week low of $4.06 and a 52 week high of $11.78. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -5.87 and a beta of 1.34. The company has a current ratio of 13.01, a quick ratio of 12.94 and a debt-to-equity ratio of 0.19.

Ocular Therapeutix (NASDAQ:OCUL) last issued its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). Ocular Therapeutix had a negative return on equity of 45.18% and a negative net margin of 283.74%. The business had revenue of $17.08 million during the quarter, compared to the consensus estimate of $16.89 million. Analysts forecast that Ocular Therapeutix, Inc. will post -0.98 EPS for the current year.

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.