Renaissance Technologies LLC Raises Position in Ocular Therapeutix, Inc. $OCUL

Renaissance Technologies LLC boosted its holdings in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 45.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,147,982 shares of the biopharmaceutical company’s stock after purchasing an additional 356,782 shares during the period. Renaissance Technologies LLC’s holdings in Ocular Therapeutix were worth $9,723,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC grew its stake in shares of Ocular Therapeutix by 124.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,242 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,242 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Ocular Therapeutix in the 4th quarter valued at about $31,000. Hilton Head Capital Partners LLC lifted its stake in shares of Ocular Therapeutix by 30.4% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,520 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,053 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Ocular Therapeutix during the 4th quarter valued at about $61,000. Finally, KBC Group NV purchased a new stake in Ocular Therapeutix during the 4th quarter valued at about $78,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OCUL has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ocular Therapeutix in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Ocular Therapeutix in a research note on Wednesday, May 6th. Robert W. Baird raised their target price on shares of Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Chardan Capital lifted their target price on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Ocular Therapeutix has a consensus rating of “Moderate Buy” and an average price target of $25.11.

Insider Buying and Selling at Ocular Therapeutix

In other news, insider Pravin Dugel sold 21,156 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $8.20, for a total transaction of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at approximately $21,296,794. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is currently owned by company insiders.

Ocular Therapeutix Stock Performance

OCUL opened at $8.17 on Monday. The business has a 50 day simple moving average of $9.15 and a two-hundred day simple moving average of $9.18. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -5.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 14.81 and a quick ratio of 14.73. Ocular Therapeutix, Inc. has a one year low of $6.23 and a one year high of $16.44.

About Ocular Therapeutix

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.