Oculis Holding AG $OCS Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Oculis stake by 59.9% in the second quarter, selling 805,672 shares and retaining 540,056 shares worth approximately $7.49 million. Institutional investors collectively own 22.3% of Oculis.
• Oculis shares opened at $12.16, near the lower end of their 12-month range of $10.52 to $34.47. The clinical-stage biopharmaceutical company reported a quarterly loss of $0.20 per share on $0.38 million in revenue.
• Analyst sentiment remains broadly positive, with nine Buy ratings and one Sell rating and a consensus “Moderate Buy” rating. The average price target is $38, though JPMorgan and Robert W. Baird recently lowered their targets.

Wellington Management Group LLP reduced its stake in Oculis Holding AG (NASDAQ:OCS - Free Report) by 59.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 540,056 shares of the company's stock after selling 805,672 shares during the period. Wellington Management Group LLP owned approximately 0.93% of Oculis worth $7,491,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OCS. Koshinski Asset Management Inc. acquired a new stake in shares of Oculis during the first quarter valued at about $238,000. Millennium Management LLC acquired a new stake in Oculis in the 4th quarter valued at approximately $312,000. Himension Capital Singapore PTE. LTD. acquired a new stake in Oculis in the 1st quarter valued at approximately $503,000. Marshall Wace LLP purchased a new stake in Oculis in the second quarter valued at approximately $393,000. Finally, Renaissance Technologies LLC acquired a new position in Oculis during the fourth quarter worth $499,000. Hedge funds and other institutional investors own 22.30% of the company's stock.

Oculis Trading Down 0.1%

OCS opened at $12.16 on Wednesday. The business has a fifty day moving average price of $12.55 and a 200 day moving average price of $19.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.35 and a quick ratio of 8.35. Oculis Holding AG has a 12 month low of $10.52 and a 12 month high of $34.47. The stock has a market capitalization of $705.04 million, a price-to-earnings ratio of -6.99 and a beta of 0.52.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OCS shares. JPMorgan Chase & Co. dropped their price objective on Oculis from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Oculis in a report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating on shares of Oculis in a research report on Tuesday, August 25th. Robert W. Baird cut their price target on shares of Oculis from $49.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Finally, Wall Street Zen raised shares of Oculis from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.00.

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.

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