Pravin Dugel, CEO and executive chairman of Ocular Therapeutix Inc. (NASDAQ: OCUL), sold 21,649 common shares on August 24 for a total of $233,159 under a prearranged plan adopted in February 2024. The weighted average sale price was $10.77 per share, within a range of $10.64 to $10.90. The transaction was executed to satisfy tax withholding obligations tied to the vesting of restricted stock units on August 22, 2026.
Following the sale, Dugel retains direct ownership of 2,525,429 shares. Separately, Dugel’s spouse transferred 50,092 shares to the Pravin Dugel 2024 Irrevocable Trust on August 25 without financial consideration. As trustee and sole lifetime beneficiary, Dugel maintains beneficial ownership of the 744,903 shares held indirectly by the trust.
Ocular Therapeutix’s stock has posted a 12% gain over the past six months but remains down 11% year-to-date. Analysts at H.C. Wainwright and Citizens have set price targets of $25 and $34, respectively, with the latter maintaining an outperform rating despite forecasting revenue below consensus for the second quarter of 2026. InvestingPro estimates the company is currently trading below fair value.
The company is advancing its lead asset, AXPAXLI, with a planned New Drug Application submission for wet age-related macular degeneration expected in the fourth quarter of 2026. The move follows a prior agreement with the U.S. FDA on data requirements. Options activity surged after a competitor failed to meet the primary endpoint in its wet AMD study, with 9,882 call contracts trading against 12 put contracts.
