Acuta Capital Partners LLC Sells 1,581,059 Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Acuta Capital Partners LLC cut its stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) by 57.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,190,071 shares of the biopharmaceutical company’s stock after selling 1,581,059 shares during the quarter. Ocular Therapeutix makes up approximately 8.4% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Acuta Capital Partners LLC owned approximately 0.76% of Ocular Therapeutix worth $10,354,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OCUL. FMR LLC raised its holdings in Ocular Therapeutix by 7,098.7% in the 3rd quarter. FMR LLC now owns 434,369 shares of the biopharmaceutical company’s stock valued at $3,779,000 after acquiring an additional 428,335 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Ocular Therapeutix by 11.3% in the third quarter. The Manufacturers Life Insurance Company now owns 130,202 shares of the biopharmaceutical company’s stock valued at $1,133,000 after purchasing an additional 13,238 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ocular Therapeutix by 146.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,110,460 shares of the biopharmaceutical company’s stock worth $9,661,000 after purchasing an additional 660,080 shares during the period. Intech Investment Management LLC acquired a new stake in Ocular Therapeutix during the 3rd quarter worth approximately $422,000. Finally, GSA Capital Partners LLP bought a new stake in Ocular Therapeutix in the 3rd quarter valued at $1,102,000. Institutional investors and hedge funds own 59.21% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jeffrey S. Heier sold 2,948 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $9.01, for a total transaction of $26,561.48. Following the completion of the transaction, the insider now owns 269,059 shares of the company’s stock, valued at approximately $2,424,221.59. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $10.06 on Thursday. The firm’s 50 day simple moving average is $9.94 and its 200 day simple moving average is $8.21. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -7.62 and a beta of 1.26. 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, Inc. has a 1 year low of $2.16 and a 1 year high of $11.77.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OCUL shares. HC Wainwright upped their price target on shares of Ocular Therapeutix from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank began coverage on shares of Ocular Therapeutix in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $22.00 target price on the stock. Finally, Robert W. Baird reduced their price target on Ocular Therapeutix from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ocular Therapeutix presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

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.