Oculis Holding AG (NASDAQ:OCS – Get Free Report) shares gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $18.40, but opened at $17.49. Oculis shares last traded at $18.83, with a volume of 4,718 shares.
The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.28). Oculis had a negative net margin of 8,043.28% and a negative return on equity of 71.31%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on OCS shares. Robert W. Baird boosted their price target on Oculis from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday. Chardan Capital reissued a “buy” rating and issued a $28.00 price target on shares of Oculis in a research report on Thursday. Finally, HC Wainwright dropped their target price on Oculis from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday.
Institutional Trading of Oculis
Large investors have recently added to or reduced their stakes in the company. abrdn plc grew its stake in Oculis by 23.0% during the 4th quarter. abrdn plc now owns 1,009,424 shares of the company’s stock valued at $17,150,000 after purchasing an additional 188,871 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Oculis by 58.2% in the fourth quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock worth $493,000 after buying an additional 10,667 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Oculis in the fourth quarter worth about $389,000. Bellevue Group AG purchased a new stake in shares of Oculis in the fourth quarter worth about $170,000. Finally, Geode Capital Management LLC boosted its stake in shares of Oculis by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock worth $284,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 22.30% of the company’s stock.
Oculis Stock Down 0.7 %
The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. The stock has a market cap of $757.42 million, a PE ratio of -9.69 and a beta of 0.02. The business has a 50 day moving average price of $20.86 and a 200 day moving average price of $16.88.
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.
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