Oculis (NASDAQ:OCS) Sees Large Volume Increase - Here's What Happened

Key Points

• Oculis Holding AG experienced a significant increase in trading volume, with approximately 19,463 shares traded, marking a 93% rise compared to the previous session.
• Multiple analysts have issued "buy" ratings on Oculis, with target prices ranging from $33.00 to $36.00, indicating a strong positive outlook for the stock.
• Despite a reported loss of ($0.59) EPS for the last quarter, Oculis had revenue exceeding expectations at $0.25 million, part of its ongoing development of ophthalmic drug candidates.

Oculis Holding AG (NASDAQ:OCS - Get Free Report) saw strong trading volume on Wednesday . 19,463 shares traded hands during trading, an increase of 93% from the previous session's volume of 10,096 shares.The stock last traded at $16.41 and had previously closed at $16.13.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright increased their price objective on Oculis from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Chardan Capital upped their target price on shares of Oculis from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC started coverage on shares of Oculis in a research report on Wednesday, August 27th. They set a "buy" rating and a $36.00 price target on the stock. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $35.75.

Oculis Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.55 and a quick ratio of 4.55. The firm has a market cap of $751.83 million, a P/E ratio of -6.45 and a beta of 0.26. The firm's 50 day moving average is $17.85 and its 200 day moving average is $18.35.

Oculis (NASDAQ:OCS - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $0.14 million. As a group, analysts anticipate that Oculis Holding AG will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On Oculis

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Oculis by 2.2% during 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 last quarter. Bosun Asset Management LLC bought a new stake in Oculis during the second quarter valued at about $378,000. Marshall Wace LLP bought a new stake in Oculis during the 2nd quarter worth approximately $393,000. Geode Capital Management LLC raised its position in shares of Oculis by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company's stock valued at $571,000 after purchasing an additional 6,384 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its stake in shares of Oculis by 11.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 97,000 shares of the company's stock worth $1,883,000 after acquiring an additional 10,000 shares during the period. 22.30% of the stock is owned by hedge funds and other institutional investors.

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.