Propel Bio Management LLC Buys Shares of 172,839 Oculis Holding AG $OCS

Propel Bio Management LLC bought a new stake in Oculis Holding AG (NASDAQ:OCS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 172,839 shares of the company’s stock, valued at approximately $3,452,000. Oculis accounts for about 2.9% of Propel Bio Management LLC’s portfolio, making the stock its 13th largest holding. Propel Bio Management LLC owned 0.33% of Oculis as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of Oculis by 2.2% during the second quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock valued at $786,000 after buying an additional 878 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Oculis by 100.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $40,000 after buying an additional 1,000 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Oculis during the fourth quarter valued at approximately $80,000. Geode Capital Management LLC raised its holdings in shares of Oculis by 27.7% during the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock valued at $571,000 after buying an additional 6,384 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in shares of Oculis by 10.6% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 107,300 shares of the company’s stock valued at $2,143,000 after buying an additional 10,300 shares during the last quarter. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Stock Down 5.2%

NASDAQ:OCS opened at $11.21 on Friday. The firm has a market capitalization of $649.96 million, a price-to-earnings ratio of -5.26 and a beta of 0.23. Oculis Holding AG has a 1-year low of $11.17 and a 1-year high of $34.47. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $26.45 and its 200 day moving average price is $24.94.

Oculis (NASDAQ:OCS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.14). The business had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.25 million. Oculis had a negative net margin of 8,460.67% and a negative return on equity of 56.78%. On average, sell-side analysts forecast that Oculis Holding AG will post -2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OCS shares. Needham & Company LLC cut their price target on Oculis from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Stifel Nicolaus cut their price target on Oculis from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oculis in a report on Tuesday, April 21st. Wall Street Zen cut Oculis from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, JPMorgan Chase & Co. cut their price target on Oculis from $42.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Oculis presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Oculis Profile

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.