Bank of New York Mellon Corp Buys 164,383 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Bank of New York Mellon Corp grew its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 49.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,635 shares of the biopharmaceutical company’s stock after purchasing an additional 164,383 shares during the quarter. Bank of New York Mellon Corp owned about 0.32% of Ocular Therapeutix worth $3,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Ocular Therapeutix by 41.4% in the first quarter. Vanguard Group Inc. now owns 7,235,131 shares of the biopharmaceutical company’s stock worth $65,840,000 after buying an additional 2,117,029 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Ocular Therapeutix during the 1st quarter worth approximately $65,055,000. Opaleye Management Inc. raised its position in shares of Ocular Therapeutix by 9.6% in the 1st quarter. Opaleye Management Inc. now owns 6,653,138 shares of the biopharmaceutical company’s stock worth $60,544,000 after acquiring an additional 583,138 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Ocular Therapeutix in the 4th quarter valued at approximately $20,071,000. Finally, Deltec Asset Management LLC boosted its position in shares of Ocular Therapeutix by 9.6% during the second quarter. Deltec Asset Management LLC now owns 2,590,265 shares of the biopharmaceutical company’s stock valued at $17,717,000 after purchasing an additional 226,181 shares in the last quarter. 59.21% of the stock is owned by hedge funds and other institutional investors.

Ocular Therapeutix Stock Performance

Shares of Ocular Therapeutix stock opened at $9.00 on Friday. Ocular Therapeutix, Inc. has a 1 year low of $2.00 and a 1 year high of $11.31. The firm’s 50-day moving average is $8.26 and its 200 day moving average is $7.51. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -6.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 16.64 and a quick ratio of 16.55.

Ocular Therapeutix (NASDAQ:OCUL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. The firm had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.85 million. During the same quarter in the previous year, the company earned ($0.27) EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that Ocular Therapeutix, Inc. will post -1.02 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.