Oculis Holding AG (NASDAQ:OCS) Sees Large Decrease in Short Interest

Key Points

• Oculis Holding AG experienced a substantial decline in short interest, falling 71.1% to 11,700 shares by August 31st, with a short-interest ratio of 0.7 days based on average trading volume.
• Institutional investors, including Bank of America and Citadel Advisors, have increased their stakes in Oculis, with 22.30% of the stock currently owned by such investors.
• Despite recently receiving analyst upgrades and maintaining a "buy" rating among four brokerages, Oculis reported a quarterly EPS loss of ($0.59), missing consensus estimates by ($0.06).

Oculis Holding AG (NASDAQ:OCS - Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 11,700 shares, a drop of 71.1% from the August 15th total of 40,500 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 16,200 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 16,200 shares, the short-interest ratio is presently 0.7 days. Currently, 0.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Oculis

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Oculis by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company's stock valued at $786,000 after acquiring an additional 878 shares during the period. Geode Capital Management LLC grew its position in Oculis by 27.7% during the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company's stock worth $571,000 after buying an additional 6,384 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in Oculis by 11.5% during the second quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company's stock valued at $1,883,000 after purchasing an additional 10,000 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in Oculis in the 1st quarter worth approximately $234,000. Finally, Bosun Asset Management LLC bought a new stake in shares of Oculis during the 2nd quarter valued at $378,000. 22.30% of the stock is currently owned by institutional investors and hedge funds.

Oculis Stock Performance

OCS traded down $0.23 during trading on Wednesday, hitting $17.43. 10,952 shares of the stock were exchanged, compared to its average volume of 41,584. The firm has a market capitalization of $760.99 million, a P/E ratio of -6.53 and a beta of 0.26. Oculis has a 1-year low of $11.78 and a 1-year high of $23.08. The stock has a fifty day moving average price of $17.62 and a two-hundred day moving average price of $18.20. The company has a quick ratio of 4.55, a current ratio of 4.55 and a debt-to-equity ratio of 0.01.

Oculis (NASDAQ:OCS - Get Free Report) last announced its earnings results on Thursday, August 21st. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.06). Oculis had a negative net margin of 13,958.12% and a negative return on equity of 90.31%. The company had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.14 million. As a group, sell-side analysts predict that Oculis will post -2.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Oculis from a "sell" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC began coverage on shares of Oculis in a research note on Wednesday, August 27th. They set a "buy" rating and a $36.00 price target on the stock. Finally, HC Wainwright lifted their price target on shares of Oculis from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $35.75.

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.