Short Interest in Oculis Holding AG (NASDAQ:OCS) Drops By 54.1%

Key Points

• Oculis Holding AG's short interest dropped by 54.1% in July, decreasing from 20,900 shares to 9,600 shares, indicating a low level of short-selling at approximately 0.0% of the company's total stock.
• The company's stock has a market cap of $781.51 million, with a PE ratio of -6.78 and trading within a twelve-month range between $10.79 and $23.08.
• Chardan Capital has raised its price target for Oculis from $28.00 to $33.00, maintaining a "buy" rating, which reflects positive analyst outlook on the company's growth potential.

Oculis Holding AG (NASDAQ:OCS - Get Free Report) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 9,600 shares, adeclineof54.1% from the July 15th total of 20,900 shares. Based on an average daily trading volume, of 21,100 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.0% of the company's shares are short sold. Currently,0.0% of the company's shares are short sold. Based on an average daily trading volume, of 21,100 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Oculis

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Oculis by 58.2% during the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock valued at $493,000 after buying an additional 10,667 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Oculis in the fourth quarter worth $389,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Oculis in the first quarter worth $234,000. Geode Capital Management LLC increased its holdings in shares of Oculis by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 16,744 shares of the company's stock valued at $284,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Aberdeen Group plc raised its position in shares of Oculis by 24.1% in the 1st quarter. Aberdeen Group plc now owns 1,253,119 shares of the company's stock worth $23,847,000 after purchasing an additional 243,695 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company's stock.

Wall Street Analyst Weigh In

Separately, Chardan Capital raised their price objective on shares of Oculis from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $35.33.

Oculis Price Performance

NASDAQ:OCS traded up $0.22 during mid-day trading on Thursday, hitting $17.77. 1,612 shares of the company's stock were exchanged, compared to its average volume of 44,649. The company has a market cap of $775.87 million, a PE ratio of -6.74 and a beta of 0.27. Oculis has a one year low of $10.79 and a one year high of $23.08. The business has a fifty day moving average price of $18.45 and a 200 day moving average price of $18.78.

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.