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

Shares of Oculis Holding AG (NASDAQ:OCS - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $17.59, but opened at $16.00. Oculis shares last traded at $15.44, with a volume of 36,041 shares traded.

Analyst Ratings Changes

Several research analysts have commented on OCS shares. Chardan Capital restated a "buy" rating and set a $28.00 price objective on shares of Oculis in a report on Thursday, March 13th. Robert W. Baird increased their price objective on Oculis from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, March 13th. Finally, HC Wainwright cut their price target on shares of Oculis from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th.

Oculis Stock Up 9.7 %

The business has a fifty day moving average of $19.72 and a 200 day moving average of $17.74. The stock has a market capitalization of $709.07 million, a price-to-earnings ratio of -8.41 and a beta of 0.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.02.

Oculis (NASDAQ:OCS - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.28). Oculis had a negative return on equity of 71.31% and a negative net margin of 8,043.28%. As a group, equities analysts predict that Oculis Holding AG will post -2.09 earnings per share for the current year.

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Institutional Investors Weigh In On Oculis

Large investors have recently modified their holdings of the company. Bellevue Group AG purchased a new stake in Oculis in the 4th quarter valued at approximately $170,000. XTX Topco Ltd acquired a new position in shares of Oculis in the fourth quarter worth $225,000. Geode Capital Management LLC lifted its holdings in Oculis by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company's stock valued at $284,000 after purchasing an additional 1,800 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Oculis in the 4th quarter worth approximately $389,000. Finally, Bank of America Corp DE lifted its holdings in shares of Oculis by 58.2% during the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company's stock worth $493,000 after acquiring an additional 10,667 shares during the period. 22.30% of the stock is owned by institutional investors and hedge funds.

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.