Algert Global LLC Takes Position in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Algert Global LLC purchased a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,114 shares of the biopharmaceutical company’s stock, valued at approximately $69,000.

A number of other hedge funds have also bought and sold shares of OCUL. The Manufacturers Life Insurance Company lifted its holdings in Ocular Therapeutix by 61.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 116,964 shares of the biopharmaceutical company’s stock worth $800,000 after buying an additional 44,524 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Ocular Therapeutix by 275.3% during the 2nd quarter. Squarepoint Ops LLC now owns 64,911 shares of the biopharmaceutical company’s stock valued at $444,000 after acquiring an additional 47,614 shares in the last quarter. Marshall Wace LLP acquired a new position in Ocular Therapeutix in the second quarter worth $2,938,000. Paradigm Capital Management Inc. NY increased its stake in Ocular Therapeutix by 114.3% during the second quarter. Paradigm Capital Management Inc. NY now owns 300,000 shares of the biopharmaceutical company’s stock valued at $2,052,000 after purchasing an additional 160,000 shares during the last quarter. Finally, Tri Locum Partners LP bought a new stake in Ocular Therapeutix during the second quarter valued at $3,520,000. 59.21% of the stock is currently owned by institutional investors and hedge funds.

Ocular Therapeutix Stock Performance

OCUL opened at $9.78 on Friday. The company has a current ratio of 16.64, a quick ratio of 16.55 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $8.73 and its 200-day moving average is $7.39. The stock has a market cap of $1.52 billion, a PE ratio of -7.24 and a beta of 1.29. Ocular Therapeutix, Inc. has a twelve month low of $2.00 and a twelve month high of $11.31.

Ocular Therapeutix (NASDAQ:OCUL) last issued 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). The business had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.85 million. Ocular Therapeutix had a negative net margin of 226.46% and a negative return on equity of 52.75%. Ocular Therapeutix’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted ($0.27) earnings per share. On average, analysts predict that Ocular Therapeutix, Inc. will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Ocular Therapeutix 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.