Oculis (NASDAQ:OCS) Stock Price Up 7.4% – Here’s What Happened

Oculis Holding AG (NASDAQ:OCS)’s share price shot up 7.4% on Tuesday . The stock traded as high as $15.57 and last traded at $15.44. 13,745 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 46,844 shares. The stock had previously closed at $14.37.

Analyst Ratings Changes

OCS has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on Oculis from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, March 13th. HC Wainwright lowered their target price on shares of Oculis from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Chardan Capital reissued a “buy” rating and set a $28.00 price objective on shares of Oculis in a research note on Thursday, March 13th.

Oculis Stock Up 4.2 %

The company has a market capitalization of $654.06 million, a PE ratio of -7.76 and a beta of 0.19. 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 business’s 50 day simple moving average is $20.02 and its 200 day simple moving average is $17.75.

Oculis (NASDAQ:OCS) last announced its earnings results on Tuesday, March 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts forecast that Oculis Holding AG will post -2.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCS. Citadel Advisors LLC bought a new stake in shares of Oculis in the 4th quarter worth about $389,000. Bank of America Corp DE increased its position in shares of Oculis by 58.2% in the 4th quarter. Bank of America Corp DE now owns 28,980 shares of the company’s stock valued at $493,000 after buying an additional 10,667 shares in the last quarter. Bellevue Group AG acquired a new position in Oculis in the fourth quarter valued at about $170,000. XTX Topco Ltd acquired a new stake in shares of Oculis during the fourth quarter worth about $225,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Oculis by 12.0% during 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. Institutional investors own 22.30% of the company’s stock.

About Oculis

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.