Crispr Therapeutics shares tumble after significant earnings miss
BEDFORD, MA — Ocular Therapeutix, Inc. (NASDAQ:OCUL), a $1.06 billion market cap biotechnology company, recently saw a stock transaction involving its Chief Strategy Officer, Sanjay Nayak. According to a recent SEC filing, Nayak sold 1,895 shares of common stock on February 24, 2025, as part of a pre-arranged plan to cover tax obligations related to the vesting of restricted stock units. InvestingPro analysis shows the company maintains a strong balance sheet, holding more cash than debt.
The shares were sold at a weighted average price of $6.84, with individual transaction prices ranging from $6.70 to $6.96. This sale totaled approximately $12,961. Following the transaction, Nayak retains ownership of 283,485 shares in the company. The stock, currently trading at $6.94, appears slightly undervalued according to InvestingPro Fair Value metrics, with technical indicators suggesting oversold conditions.
The transaction was conducted under a durable automatic sale instruction, which was put in place on February 21, 2024, and does not represent a discretionary trade by Nayak. This move was part of a sell-to-cover election to satisfy tax withholding obligations. Investors should note that Ocular Therapeutix is scheduled to report earnings on March 6, 2025. For deeper insights into OCUL’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Ocular Therapeutix has announced a revised compensation package for its CEO, Pravin Dugel, M.D., which includes a new annual base salary of $819,200 and performance-based long-term equity awards. The awards are contingent on stock price performance and require shareholder approval at the 2025 annual meeting. Meanwhile, the company has made significant progress in its clinical trials for Axpaxli, a treatment for wet age-related macular degeneration (AMD (NASDAQ:AMD)), with the SOL-1 trial now fully enrolled with over 300 patients. The company plans to release topline data from this trial in the fourth quarter of 2025. Analysts from Raymond (NSE:RYMD) James, H.C. Wainwright, and Baird have maintained positive ratings on Ocular Therapeutix, with price targets set at $19.00, $15.00, and $17.00, respectively. These analysts have highlighted the potential of Axpaxli in the wet AMD market and the company’s strategic focus on developing therapies for eye diseases. The company’s approach involves the use of ELUTYX technology, which utilizes a bioresorbable hydrogel for drug delivery, aiming to improve treatment outcomes. The ongoing trials and strategic developments have garnered optimism from analysts, reflecting confidence in the company’s future prospects.
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