Oculis Holding AG (NASDAQ:OCS) Sees Significant Increase in Short Interest

Oculis Holding AG (NASDAQ:OCS) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,102,658 shares, a growth of 69.3% from the May 31st total of 651,247 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,672,824 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Oculis

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Oculis by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock valued at $571,000 after buying an additional 6,384 shares during the period. Marshall Wace LLP purchased a new stake in shares of Oculis in the second quarter valued at about $393,000. Bank of America Corp DE increased its position in Oculis by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after purchasing an additional 878 shares during the period. Woodline Partners LP grew its holdings in Oculis by 65.8% during the third quarter. Woodline Partners LP now owns 83,833 shares of the company’s stock worth $1,474,000 after acquiring an additional 33,265 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in shares of Oculis during the 4th quarter worth $80,000. 22.30% of the stock is owned by institutional investors and hedge funds.

Oculis Stock Performance

Shares of OCS stock opened at $14.12 on Friday. The stock’s 50-day moving average price is $20.77 and its 200 day moving average price is $23.93. The company has a quick ratio of 5.18, a current ratio of 5.18 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $818.68 million, a PE ratio of -6.63 and a beta of 0.44. Oculis has a 52-week low of $10.52 and a 52-week high of $34.47.

Oculis (NASDAQ:OCS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.14). Oculis had a negative return on equity of 56.78% and a negative net margin of 8,460.67%.The company had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.25 million. As a group, equities research analysts forecast that Oculis will post -2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OCS. Wall Street Zen cut Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. cut their price target on shares of Oculis from $42.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. HC Wainwright restated a “buy” rating on shares of Oculis in a research note on Thursday, June 11th. Needham & Company LLC reduced their price objective on Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oculis in a research report on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Oculis Company Profile

Oculis SA (NASDAQ: OCS) is a clinical-stage biopharmaceutical company focused on developing novel ophthalmic therapies designed primarily to treat retinal and neuro-ophthalmic diseases. Leveraging its proprietary technology platforms, Oculis aims to deliver therapeutic agents to the back of the eye through topical or nasal administration, potentially offering an alternative to current intravitreal injections. The company’s pipeline includes OCS-01, a topical dexamethasone formulation targeting diabetic macular edema; OCS-05, a neuroprotective candidate for acute optic neuritis and idiopathic intracranial hypertension; and OC-02, a nasal spray formulation of varenicline for dry eye disease.

Founded in 2016 and headquartered in Basel, Switzerland, Oculis operates research and development facilities across Europe and in the United States, with a presence in Cambridge, Massachusetts.