Ocugen (NASDAQ:OCGN) Sets New 1-Year High – Still a Buy?

Ocugen, Inc. (NASDAQ:OCGN) shares reached a new 52-week high on Monday . The stock traded as high as $1.96 and last traded at $1.9450, with a volume of 8388727 shares traded. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

OCGN has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a research note on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Ocugen in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Ocugen Stock Performance

The stock has a 50-day moving average of $1.54 and a 200-day moving average of $1.40. The firm has a market cap of $605.90 million, a price-to-earnings ratio of -8.82 and a beta of 2.75. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cora Capital Advisors LLC increased its position in shares of Ocugen by 27.5% in the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after acquiring an additional 6,500 shares during the last quarter. Jain Global LLC grew its stake in shares of Ocugen by 7.2% in the fourth quarter. Jain Global LLC now owns 114,690 shares of the company’s stock valued at $155,000 after buying an additional 7,686 shares in the last quarter. Lanham O Dell & Company Inc. increased its holdings in Ocugen by 7.7% during the third quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock worth $228,000 after buying an additional 10,000 shares during the last quarter. Procyon Advisors LLC raised its position in Ocugen by 5.5% during the third quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock worth $344,000 after acquiring an additional 11,000 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ocugen by 56.7% during the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after acquiring an additional 13,326 shares in the last quarter. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.