How Ocular Therapeutix Inc (OCUL) Stacks Up Against Its Peers

Because Ocular Therapeutix Inc (NASDAQ:OCUL) has encountered a decline in interest from the smart money, we can see that there was a specific group of hedge funds who were dropping their full holdings in the third quarter. Intriguingly, Phil Frohlich’s Prescott Group Capital Management sold off the largest position of the 700 funds followed by Insider Monkey, comprising about $1.8 million in stock. James A. Silverman’s fund, Opaleye Management, also said goodbye to its stock, about $1.3 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Ocular Therapeutix Inc (NASDAQ:OCUL). We will take a look at Avenue Income Credit Strategies Fund (NYSE:ACP), Pacific Mercantile Bancorp (NASDAQ:PMBC), CyberOptics Corporation (NASDAQ:CYBE), and EnerNOC, Inc. (NASDAQ:ENOC). This group of stocks’ market values match OCUL’s market value.

As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $13 million. That figure was $6 million in OCUL’s case. CyberOptics Corporation (NASDAQ:CYBE) is the most popular stock in this table. On the other hand Pacific Mercantile Bancorp (NASDAQ:PMBC) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks Ocular Therapeutix Inc (NASDAQ:OCUL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio, though the huge decline in hedge fund ownership is worrisome.

Disclosure: None