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

Oculis Holding AG (NASDAQ:OCS) shares fell 7.2% during mid-day trading on Tuesday . The stock traded as low as $18.08 and last traded at $18.14. 32,138 shares traded hands 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.

Analysts Set New Price Targets

Several brokerages have issued reports on OCS. Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of Oculis in a research note on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Oculis in a research note on Monday, January 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $28.80.

Oculis Stock Performance

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

Hedge Funds Weigh In On Oculis

A number of institutional investors and hedge funds have recently made changes to their positions in OCS. abrdn plc grew its stake in shares of Oculis by 23.0% during the 4th 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 during the period. Geode Capital Management LLC grew its stake 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 worth $284,000 after purchasing an additional 1,800 shares during the period. XTX Topco Ltd acquired a new position in shares of Oculis during the 4th quarter worth $225,000. Bellevue Group AG purchased a new stake in shares of Oculis in the 4th quarter worth about $170,000. Finally, Bank of America Corp DE boosted 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 worth $493,000 after buying an additional 10,667 shares in the last quarter. 22.30% of the stock is owned by institutional investors and hedge funds.

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.