Ieq Capital LLC Cuts Stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL)

Posted by Defense World Staff on Apr 30th, 2023

Ieq Capital LLC reduced its holdings in shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL – Get Rating) by 50.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,529 shares of the biopharmaceutical company’s stock after selling 144,404 shares during the period. Ieq Capital LLC owned about 0.18% of Ocular Therapeutix worth $392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Creative Planning bought a new stake in Ocular Therapeutix during the 3rd quarter valued at $64,000. Raymond James Financial Services Advisors Inc. raised its position in Ocular Therapeutix by 13.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 34,873 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 4,045 shares in the last quarter. Deltec Asset Management LLC raised its position in Ocular Therapeutix by 12.3% during the 3rd quarter. Deltec Asset Management LLC now owns 2,323,673 shares of the biopharmaceutical company’s stock valued at $9,643,000 after purchasing an additional 254,360 shares in the last quarter. Raymond James & Associates raised its position in Ocular Therapeutix by 11.1% during the 3rd quarter. Raymond James & Associates now owns 57,425 shares of the biopharmaceutical company’s stock valued at $238,000 after purchasing an additional 5,748 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Ocular Therapeutix during the 3rd quarter valued at $106,000. 55.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Philip C. Strassburger sold 6,181 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $4.24, for a total transaction of $26,207.44. Following the transaction, the general counsel now directly owns 109,071 shares in the company, valued at approximately $462,461.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Philip C. Strassburger sold 6,181 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $4.24, for a total transaction of $26,207.44. Following the transaction, the general counsel now directly owns 109,071 shares in the company, valued at approximately $462,461.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Antony C. Mattessich sold 19,669 shares of Ocular Therapeutix stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $4.24, for a total value of $83,396.56. Following the sale, the chief executive officer now directly owns 446,281 shares of the company’s stock, valued at approximately $1,892,231.44. The disclosure for this sale can be found here. Insiders have sold a total of 38,155 shares of company stock worth $161,777 in the last ninety days. 3.60% of the stock is owned by insiders.

Ocular Therapeutix Stock Up 3.2 %

Shares of OCUL stock opened at $6.20 on Friday. Ocular Therapeutix, Inc. has a 1-year low of $2.57 and a 1-year high of $6.67. The stock’s fifty day moving average price is $5.49 and its 200 day moving average price is $4.22. The company has a debt-to-equity ratio of 1.53, a quick ratio of 4.07 and a current ratio of 4.13.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Ocular Therapeutix in a research report on Tuesday, March 7th. Robert W. Baird assumed coverage on Ocular Therapeutix in a report on Thursday, April 20th. They issued an “outperform” rating and a $18.00 price target on the stock. JMP Securities cut their price target on Ocular Therapeutix from $12.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 7th. Finally, StockNews.com upgraded Ocular Therapeutix from a “sell” rating to a “hold” rating in a report on Monday, April 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ocular Therapeutix has an average rating of “Buy” and an average target price of $12.80.

Ocular Therapeutix Profile

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Ocular Therapeutix, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.