Propel Bio Management LLC Makes New Investment in Oculis Holding AG $OCS

Propel Bio Management LLC bought a new position in Oculis Holding AG (NASDAQ:OCS) in the 4th quarter, Holdings Channel.com reports. The fund bought 172,839 shares of the company’s stock, valued at approximately $3,452,000. Oculis comprises approximately 2.9% of Propel Bio Management LLC’s investment portfolio, making the stock its 13th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in Oculis by 100.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $40,000 after acquiring an additional 1,000 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in Oculis in the fourth quarter worth approximately $80,000. Marshall Wace LLP bought a new stake in Oculis in the second quarter worth approximately $393,000. Geode Capital Management LLC grew its position in Oculis by 27.7% in the second quarter. Geode Capital Management LLC now owns 29,436 shares of the company’s stock worth $571,000 after acquiring an additional 6,384 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Oculis by 2.2% in the second quarter. Bank of America Corp DE now owns 40,512 shares of the company’s stock worth $786,000 after acquiring an additional 878 shares in the last quarter. 22.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OCS. JPMorgan Chase & Co. reduced their price objective on shares of Oculis from $42.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday. Wall Street Zen cut shares of Oculis from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Needham & Company LLC reduced their price objective on shares of Oculis from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Robert W. Baird reduced their price objective on shares of Oculis from $49.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Oculis from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.33.

Oculis Price Performance

Shares of Oculis stock opened at $11.21 on Friday. The firm has a fifty day simple moving average of $26.45 and a 200-day simple moving average of $24.94. The company has a current ratio of 5.18, a quick ratio of 5.18 and a debt-to-equity ratio of 0.01. Oculis Holding AG has a 1-year low of $11.17 and a 1-year high of $34.47. The stock has a market capitalization of $649.96 million, a price-to-earnings ratio of -5.26 and a beta of 0.23.

Oculis (NASDAQ:OCS) last announced its earnings results on Friday, May 8th. The company reported ($0.63) earnings per share (EPS) 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 the consensus estimate of $0.25 million. On average, sell-side analysts expect that Oculis Holding AG will post -2.27 earnings per share for the current year.

About Oculis

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.