Oculis (NASDAQ:OCS) Shares Gap Down Following Weak Earnings

Shares of Oculis Holding AG (NASDAQ:OCS) gapped down before the market opened 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 changing hands.

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 net margin of 8,043.28% and a negative return on equity of 71.31%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OCS. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of Oculis in a report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Oculis in a report on Monday, January 6th.

Institutional Trading of Oculis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCS. abrdn plc raised its holdings in Oculis by 23.0% during the fourth quarter. abrdn plc now owns 1,009,424 shares of the company’s stock worth $17,150,000 after purchasing an additional 188,871 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Oculis during the fourth quarter worth approximately $389,000. XTX Topco Ltd purchased a new position in shares of Oculis during the fourth quarter worth approximately $225,000. Bank of America Corp DE grew its position in shares of Oculis by 58.2% during the fourth 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 last quarter. Finally, Bellevue Group AG purchased a new position in shares of Oculis during the fourth quarter worth approximately $170,000. Institutional investors and hedge funds own 22.30% of the company’s stock.

Oculis Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.02. The firm has a market capitalization of $763.10 million, a PE ratio of -9.76 and a beta of 0.02. The business’s 50-day moving average price is $20.82 and its 200-day moving average price is $16.86.

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.