Oculis (NASDAQ:OCS) Shares Gap Down - Here's Why

Key Points

• Oculis shares fell 2.8%, opening at $10.11 versus a prior close of $10.60 and later trading near $9.86.
• Analysts have cut several price targets, but the consensus remains positive: nine analysts rate Oculis a Buy and one a Sell, producing a “Moderate Buy” average rating and a $38 target.
• The clinical-stage ophthalmology company reported a quarterly loss of $0.20 per share on just $0.38 million in revenue, while institutional investors and hedge funds own 22.3% of its stock.

Shares of Oculis Holding AG (NASDAQ:OCS - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $10.60, but opened at $10.11. Oculis shares last traded at $9.8590, with a volume of 5,224 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Oculis from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. reduced their target price on Oculis from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, August 14th. Stifel Nicolaus decreased their target price on Oculis from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, June 1st. Guggenheim lowered their price target on Oculis from $75.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, June 1st. Finally, Robert W. Baird dropped their price target on Oculis from $49.00 to $38.00 and set an "outperform" rating on the stock in a research report on Monday, June 1st. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Oculis currently has an average rating of "Moderate Buy" and an average target price of $38.00.

Oculis Trading Down 2.8%

The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $567.61 million, a price-to-earnings ratio of -5.64 and a beta of 0.52. The company has a fifty day moving average price of $12.25 and a 200-day moving average price of $19.29.

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

Hedge Funds Weigh In On Oculis

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in shares of Oculis by 326.4% during the 2nd quarter. Squarepoint Ops LLC now owns 61,605 shares of the company's stock worth $854,000 after acquiring an additional 47,158 shares in the last quarter. Braidwell LP bought a new position in shares of Oculis in the 2nd quarter valued at approximately $11,570,000. Bank of America Corp DE raised its stake in shares of Oculis by 9.1% in the 1st quarter. Bank of America Corp DE now owns 69,764 shares of the company's stock valued at $1,855,000 after acquiring an additional 5,813 shares in the last quarter. Himension Capital Singapore PTE. LTD. acquired a new stake in Oculis in the 1st quarter worth approximately $503,000. Finally, Koshinski Asset Management Inc. bought a new stake in Oculis during the first quarter worth approximately $238,000. 22.30% of the stock is owned by institutional investors and hedge funds.

Oculis Company Profile

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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