Oculis (NASDAQ:OCS) Trading Down 7.2% – Time to Sell?

Oculis Holding AG (NASDAQ:OCS)’s share price fell 7.2% during mid-day trading on Tuesday . The company traded as low as $18.08 and last traded at $18.14. 32,138 shares were traded during mid-day trading, a decline of 27% from the average session volume of 44,113 shares. The stock had previously closed at $19.54.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OCS. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Oculis in a research note on Monday, January 6th. Chardan Capital reiterated a “buy” rating and issued a $28.00 price target on shares of Oculis in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $28.80.

Oculis Stock Down 7.9 %

The firm has a market cap of $728.67 million, a PE ratio of -9.32 and a beta of -0.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.02 and a current ratio of 4.02. The firm’s 50-day moving average price is $20.64 and its two-hundred day moving average price is $16.58.

Institutional Trading of Oculis

Several institutional investors have recently modified their holdings of OCS. Bellevue Group AG purchased a new stake in Oculis in the 4th quarter valued at $170,000. XTX Topco Ltd purchased a new stake in Oculis in the 4th quarter valued at $225,000. Geode Capital Management LLC raised its position 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 during the last quarter. Citadel Advisors LLC purchased a new stake in Oculis in the 4th quarter valued at $389,000. Finally, Bank of America Corp DE raised its position in 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 purchasing an additional 10,667 shares during the last quarter. Hedge funds and other 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.