Oculis (NASDAQ:OCS) Shares Down 7.2% – Here’s Why

Oculis Holding AG (NASDAQ:OCS)’s stock price fell 7.2% on Tuesday . The company traded as low as $19.50 and last traded at $20.23. 51,752 shares changed hands during trading, a decline of 52% from the average session volume of 108,781 shares. The stock had previously closed at $21.80.

Analysts Set New Price Targets

Several research firms have recently issued reports on OCS. Chardan Capital reissued a “buy” rating and issued a $28.00 price target on shares of Oculis in a research report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Oculis in a report on Monday, January 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $28.80.

Oculis Stock Performance

The business’s fifty day moving average price is $19.35 and its 200-day moving average price is $15.60. The stock has a market capitalization of $846.45 million, a PE ratio of -10.83 and a beta of -0.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.02 and a quick ratio of 4.02.

Hedge Funds Weigh In On Oculis

An institutional investor recently raised its position in Oculis stock. abrdn plc increased its stake in Oculis Holding AG (NASDAQ:OCS) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,009,424 shares of the company’s stock after purchasing an additional 188,871 shares during the period. abrdn plc owned approximately 2.49% of Oculis worth $17,150,000 as of its most recent SEC filing. 22.30% of the stock is owned by institutional investors.

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.