Oculis (NASDAQ:OCS) Shares Gap Up – Still a Buy?

Oculis Holding AG (NASDAQ:OCS) gapped up prior to trading on Wednesday . The stock had previously closed at $17.99, but opened at $19.00. Oculis shares last traded at $18.92, with a volume of 21,365 shares trading hands.

Analysts Set New Price Targets

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

Oculis Price Performance

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 company has a market cap of $766.34 million, a price-to-earnings ratio of -9.80 and a beta of -0.24. The company has a 50-day simple moving average of $20.66 and a 200-day simple moving average of $16.63.

Institutional Investors Weigh In On Oculis

Institutional investors have recently made changes to their positions in the stock. Bellevue Group AG acquired a new stake in shares of Oculis in the fourth quarter valued at about $170,000. XTX Topco Ltd acquired a new stake in shares of Oculis during the 4th quarter valued at approximately $225,000. Geode Capital Management LLC boosted 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 acquiring an additional 1,800 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Oculis in the 4th quarter worth approximately $389,000. Finally, Bank of America Corp DE increased its stake 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 in the last quarter. 22.30% of the stock is currently owned by hedge funds and other 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.