Oculis (NASDAQ:OCS) Stock Price Down 5.2% – Here’s Why

Oculis Holding AG (NASDAQ:OCS) shares dropped 5.2% on Friday . The stock traded as low as $29.45 and last traded at $29.38. Approximately 322,560 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 356,983 shares. The stock had previously closed at $31.00.

Analyst Upgrades and Downgrades

OCS has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Guggenheim started coverage on shares of Oculis in a research report on Wednesday. They set a “buy” rating and a $75.00 target price for the company. HC Wainwright boosted their target price on shares of Oculis from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Stifel Nicolaus boosted their target price on shares of Oculis from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Oculis from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.38.

Oculis Trading Down 5.0%

The firm has a market capitalization of $1.71 billion, a PE ratio of -13.83 and a beta of 0.38. The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $27.44 and its 200 day simple moving average is $24.83.

Oculis (NASDAQ:OCS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). The firm had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.25 million. Oculis had a negative return on equity of 56.78% and a negative net margin of 8,460.67%. On average, sell-side analysts predict that Oculis Holding AG will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Oculis

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew 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 worth $40,000 after buying an additional 1,000 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Oculis during the fourth quarter worth about $80,000. Koshinski Asset Management Inc. acquired a new stake in shares of Oculis during the first quarter worth about $238,000. Millennium Management LLC acquired a new stake in shares of Oculis during the fourth quarter worth about $312,000. Finally, Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Oculis during the first quarter worth about $503,000. 22.30% of the stock is owned by hedge funds and other institutional investors.

Oculis Company 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.