Crispr Therapeutics shares tumble after significant earnings miss
In recent transactions disclosed by Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biotechnology company with a market capitalization of $1.06 billion, Executive Chairman, President, and CEO Pravin Dugel sold a significant portion of his common stock holdings. According to InvestingPro data, the stock’s RSI currently indicates oversold conditions, suggesting potential buying opportunities. On February 24, Dugel sold 21,475 shares of the company’s stock, amounting to a total value of approximately $147,533. The shares were sold at a weighted average price of $6.87, with individual transaction prices ranging from $6.79 to $6.97.
These sales were conducted under a pre-arranged trading plan established by Dugel on February 21, 2024, as part of a strategy to cover tax obligations related to the vesting of restricted stock units. Following the transaction, Dugel continues to hold 3,520,318 shares directly.
This move reflects Dugel’s adherence to a planned financial strategy, rather than discretionary trading, as he fulfills tax withholding obligations.
In other recent news, Ocular Therapeutix has made notable progress in its clinical trials for Axpaxli, a treatment targeting wet age-related macular degeneration (AMD (NASDAQ:AMD)). The company’s Phase 3 SOL-1 trial has successfully randomized over 300 patients, with topline results expected in the fourth quarter of 2025. This rapid enrollment indicates strong interest in the potential therapy, with the company also advancing its SOL-R trial, another Phase 3 study for the same condition. Additionally, Ocular Therapeutix’s CEO, Pravin Dugel, received a revised compensation package reflecting his expanded responsibilities, including a significant performance-based equity award.
On the analyst front, Raymond (NSE:RYMD) James maintained a Strong Buy rating with a $19.00 price target, while H.C. Wainwright reaffirmed a Buy rating with a $15.00 target, both reflecting optimism about the company’s clinical advancements. Baird also maintained an Outperform rating with a $17.00 price target, highlighting the underappreciated potential of Axpaxli in the wet AMD market. Ocular Therapeutix’s strategic focus on developing therapies for eye diseases, particularly through its Axpaxli trials, remains a key point of interest for investors. The company’s ongoing clinical efforts and analyst endorsements suggest a promising trajectory in the ophthalmology therapeutic space.
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