Oculis (NASDAQ:OCS) Sees Large Volume Increase on Analyst Upgrade

Oculis Holding AG (NASDAQ:OCS) saw strong trading volume on Friday after Robert W. Baird raised their price target on the stock from $37.00 to $41.00. Robert W. Baird currently has an outperform rating on the stock. 37,965 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 45,132 shares.The stock last traded at $18.53 and had previously closed at $18.70.

OCS has been the subject of several other reports. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of Oculis in a research note on Thursday. HC Wainwright lowered their price target on Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday.

Institutional Investors Weigh In On Oculis

Institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in shares of Oculis during the fourth quarter valued at about $389,000. Bank of America Corp DE grew its holdings in shares of Oculis by 58.2% during the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock worth $493,000 after acquiring an additional 10,667 shares during the period. Bellevue Group AG purchased a new position in shares of Oculis during the 4th quarter worth approximately $170,000. XTX Topco Ltd purchased a new position in shares of Oculis in the 4th quarter valued at approximately $225,000. Finally, Geode Capital Management LLC lifted its stake in shares of Oculis by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock valued at $284,000 after purchasing an additional 1,800 shares during the period. 22.30% of the stock is owned by hedge funds and other institutional investors.

Oculis Stock Down 0.9 %

The company has a 50-day moving average of $20.89 and a two-hundred day moving average of $16.89. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $750.54 million, a P/E ratio of -9.60 and a beta of 0.02.

Oculis (NASDAQ:OCS) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.28). Oculis had a negative return on equity of 71.31% and a negative net margin of 8,043.28%. On average, research analysts predict that Oculis Holding AG will post -2.09 EPS for the current year.

About Oculis

Oculis Holding AG, a clinical-stage biopharmaceutical company, develops drug candidates to treat ophthalmic diseases. The company's lead product candidate is OCS-01, a topical dexamethasone optireach formulation, which is in Phase 3 clinical trials for the treatment of diabetic macular edema; OCS-02, a topical biologic candidate that is in Phase 2b clinical trials for the treatment for dry eye disease; and OCS-05, a disease modifying neuroprotective agent for neurological damage with indications for glaucoma, dry age-related macular degeneration and diabetic retinopathy, and acute optic neuritis.