Oculis (NASDAQ:OCS) Sets New 12-Month Low - Time to Sell?

Key Points

• Oculis shares fell to a new 52-week low of $8.67, last trading at $8.76 versus a prior close of $9.34. The stock’s 50-day and 200-day moving averages were substantially higher at $11.53 and $17.75.
• Analyst sentiment remains broadly positive despite the decline: nine analysts rate Oculis a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $39.44.
• The clinical-stage biopharmaceutical company remains unprofitable, reporting a quarterly loss of $0.20 per share, $0.38 million in revenue, and a projected full-year loss of $2.01 per share. Institutional investors own 22.3% of the stock.

Oculis Holding AG (NASDAQ:OCS - Get Free Report) hit a new 52-week low on Friday. The stock traded as low as $8.67 and last traded at $8.76, with a volume of 577748 shares traded. The stock had previously closed at $9.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OCS shares. Wall Street Zen upgraded Oculis from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. HC Wainwright boosted their price target on Oculis from $26.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Oculis in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Oculis from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Oculis presently has an average rating of "Moderate Buy" and a consensus target price of $39.44.

Oculis Price Performance

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 business's fifty day simple moving average is $11.53 and its 200 day simple moving average is $17.75. The stock has a market cap of $507.90 million, a price-to-earnings ratio of -5.03 and a beta of 0.62.

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

Institutional Investors Weigh In On Oculis

Hedge funds have recently bought and sold shares of the business. Koshinski Asset Management Inc. purchased a new stake in Oculis during the 1st quarter worth approximately $238,000. Himension Capital Singapore PTE. LTD. purchased a new position in shares of Oculis during the 1st quarter valued at approximately $503,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Oculis during the 1st quarter valued at approximately $776,000. Squarepoint Ops LLC grew its position in shares of Oculis by 326.4% during the second quarter. Squarepoint Ops LLC now owns 61,605 shares of the company's stock worth $854,000 after buying an additional 47,158 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Oculis by 9.1% during the first quarter. Bank of America Corp DE now owns 69,764 shares of the company's stock worth $1,855,000 after buying an additional 5,813 shares in the last quarter. Institutional investors and hedge funds own 22.30% of the company's stock.

About Oculis

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.

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