Ratan Capital Management LP Makes New $695,000 Investment in Ocular Therapeutix, Inc. $OCUL

Ratan Capital Management LP bought a new position in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,792 shares of the biopharmaceutical company’s stock, valued at approximately $695,000.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Ocular Therapeutix by 124.2% in the 4th 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 period. Rockefeller Capital Management L.P. acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $31,000. Hilton Head Capital Partners LLC acquired a new position in Ocular Therapeutix in the fourth quarter valued at approximately $42,000. Atlas Capital Advisors Inc. acquired a new position in shares of Ocular Therapeutix in the 4th quarter valued at $61,000. Finally, State of Wyoming acquired a new position in Ocular Therapeutix in the fourth quarter valued at about $78,000. 59.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OCUL. HC Wainwright reissued a “buy” rating and set a $25.00 price target (up from $21.00) on shares of Ocular Therapeutix in a research report on Thursday, June 18th. Zacks Research raised shares of Ocular Therapeutix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Chardan Capital restated a “buy” rating and set a $23.00 price objective on shares of Ocular Therapeutix in a report on Tuesday, August 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Ocular Therapeutix in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Ocular Therapeutix in a research note on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix currently has an average rating of “Moderate Buy” and an average price target of $25.75.

Ocular Therapeutix Stock Performance

OCUL opened at $10.36 on Friday. Ocular Therapeutix, Inc. has a 12-month low of $6.23 and a 12-month high of $16.44. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -7.30 and a beta of 0.93. The business has a 50 day moving average of $9.68 and a 200-day moving average of $9.17. The company has a quick ratio of 13.03, a current ratio of 13.10 and a debt-to-equity ratio of 0.14.

Ocular Therapeutix (NASDAQ:OCUL) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. Ocular Therapeutix had a negative return on equity of 59.89% and a negative net margin of 579.10%.The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $13.20 million. During the same period in the previous year, the firm earned ($0.39) EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Ocular Therapeutix, Inc. will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Peter Kaiser sold 3,035 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $10.77, for a total value of $32,686.95. Following the transaction, the insider directly owned 264,378 shares of the company’s stock, valued at $2,847,351.06. This represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. Also, insider Jeffrey S. Heier sold 3,296 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $10.78, for a total transaction of $35,530.88. Following the sale, the insider owned 318,326 shares of the company’s stock, valued at $3,431,554.28. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 29,877 shares of company stock valued at $321,827 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

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.