Oculis (NASDAQ:OCS) Shares Gap Down on Disappointing Earnings

Oculis Holding AG (NASDAQ:OCS)’s stock price gapped down prior to trading on Wednesday following a dissappointing 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.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Oculis by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 16,744 shares of the company’s stock worth $284,000 after acquiring an additional 1,800 shares in the last quarter. Bellevue Group AG bought a new position in shares of Oculis in the 4th quarter worth $170,000. Bank of America Corp DE raised 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 acquiring an additional 10,667 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Oculis in the 4th quarter worth $225,000. Finally, Citadel Advisors LLC bought a new position in shares of Oculis in the 4th quarter worth $389,000. 22.30% of the stock is owned by institutional investors.

Oculis Trading Up 2.3 %

The company has a 50-day moving average price of $20.82 and a 200 day moving average price of $16.86. The stock has a market capitalization of $762.49 million, a P/E ratio of -9.75 and a beta of 0.02. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.01.

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.