Oculis (NASDAQ:OCS) Stock Falls 5.6% – What’s Next?

Shares of Oculis Holding AG (NASDAQ:OCS) traded down 5.6% on Thursday. The company traded as low as $9.03 and last traded at $8.8170. 27,327 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 428,233 shares. The stock had previously closed at $9.34.

Wall Street Analyst Weigh In

OCS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oculis in a research report on Friday, July 17th. JPMorgan Chase & Co. decreased their target price on shares of Oculis from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Wall Street Zen upgraded Oculis from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, HC Wainwright raised their target price on Oculis from $26.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.44.

Oculis Stock Performance

The firm has a 50 day simple moving average of $11.59 and a 200-day simple moving average of $17.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.35 and a quick ratio of 8.35. The company has a market cap of $513.10 million, a price-to-earnings ratio of -5.09 and a beta of 0.52.

Oculis (NASDAQ:OCS) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.20) EPS for the quarter. The business had revenue of $0.38 million during the quarter. Oculis had a negative net margin of 6,777.18% and a negative return on equity of 42.61%. As a group, analysts predict that Oculis Holding AG will post -2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Oculis

A number of hedge funds have recently made changes to their positions in the stock. Braidwell LP purchased a new stake in Oculis in the second quarter valued at approximately $11,570,000. Folketrygdfondet purchased a new position in Oculis during the 4th quarter valued at about $3,651,000. Propel Bio Management LLC acquired a new position in shares of Oculis in the fourth quarter valued at approximately $3,452,000. NEXTBio Capital Management LP purchased a new stake in shares of Oculis during the fourth quarter worth $2,991,000. Finally, Bank of America Corp DE increased its holdings in Oculis by 9.1% during the 1st quarter. Bank of America Corp DE now owns 69,764 shares of the company’s stock worth $1,855,000 after purchasing an additional 5,813 shares during the period. Hedge funds and other institutional investors own 22.30% of the company’s stock.

Oculis Company Profile

Oculis is a clinical-stage biopharmaceutical company focused on developing ophthalmic therapies for eye diseases and vision loss. The company uses proprietary drug-delivery technologies designed to improve the delivery of treatments to specific tissues in the eye, with the goal of offering effective and convenient alternatives to injections or other invasive procedures.

Oculis’ pipeline includes OCS-01, a topical eye-drop formulation of dexamethasone being developed for diabetic macular edema and inflammation following ocular surgery.