Oculis (NASDAQ:OCS) Shares Gap Down – Here’s What Happened

Oculis Holding AG (NASDAQ:OCS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $17.59, but opened at $16.00. Oculis shares last traded at $15.44, with a volume of 36,041 shares.

Wall Street Analyst Weigh In

OCS has been the topic of several recent analyst reports. HC Wainwright cut their price objective on shares of Oculis from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird increased their price target on shares of Oculis from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. Finally, Chardan Capital restated a “buy” rating and issued a $28.00 price objective on shares of Oculis in a report on Thursday, March 13th.

Oculis Trading Down 11.9 %

The stock has a 50-day simple moving average of $20.17 and a two-hundred day simple moving average of $17.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.02 and a current ratio of 4.02. The firm has a market cap of $676.76 million, a PE ratio of -8.03 and a beta of 0.01.

Oculis (NASDAQ:OCS) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.28). Oculis had a negative net margin of 8,043.28% and a negative return on equity of 71.31%. As a group, sell-side analysts anticipate that Oculis Holding AG will post -2.09 EPS for the current year.

Hedge Funds Weigh In On Oculis

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

Oculis Company Profile

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.