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

Oculis Holding AG (NASDAQ:OCS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $10.60, but opened at $10.11. Oculis shares last traded at $9.8590, with a volume of 5,224 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OCS shares. Wall Street Zen upgraded shares of Oculis from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Stifel Nicolaus decreased their price target on shares of Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, June 1st. Robert W. Baird lowered their price target on Oculis from $49.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Guggenheim dropped their price objective on Oculis from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Oculis in a research report on Tuesday, August 25th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Oculis Trading Down 2.8%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.35 and a current ratio of 8.35. The company’s 50 day moving average is $12.25 and its 200 day moving average is $19.29. The stock has a market capitalization of $567.61 million, a price-to-earnings ratio of -5.64 and a beta of 0.52.

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

Institutional Investors Weigh In On Oculis

A number of institutional investors have recently added to or reduced their stakes in the company. Braidwell LP bought a new position in Oculis during the second quarter valued at about $11,570,000. NEXTBio Capital Management LP bought a new stake in shares of Oculis in the 4th quarter worth approximately $2,991,000. Folketrygdfondet acquired a new stake in shares of Oculis during the 4th quarter worth approximately $3,651,000. Simplify Asset Management Inc. acquired a new stake in shares of Oculis during the 4th quarter worth approximately $1,972,000. Finally, Propel Bio Management LLC bought a new stake in shares of Oculis during the fourth quarter valued at approximately $3,452,000. 22.30% of the stock is owned by institutional investors and hedge funds.

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.