Ocugen (NASDAQ:OCGN) Trading Down 5.9% – Time to Sell?

Shares of Ocugen, Inc. (NASDAQ:OCGN) traded down 5.9% on Tuesday . The company traded as low as $1.67 and last traded at $1.6750. 4,143,754 shares traded hands during trading, a decline of 14% from the average session volume of 4,794,986 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ocugen in a report on Wednesday, October 8th. Finally, Chardan Capital restated a “buy” rating and set a $7.00 price target on shares of Ocugen in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Ocugen Price Performance

The company has a market capitalization of $505.96 million, a PE ratio of -7.36 and a beta of 3.50. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a 50 day moving average price of $1.36 and a two-hundred day moving average price of $1.29.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $3.50 million during the quarter, compared to analyst estimates of $0.44 million. Ocugen had a negative return on equity of 491.22% and a negative net margin of 1,192.18%. Equities analysts forecast that Ocugen, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Ocugen

Large investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its holdings in Ocugen by 48.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company’s stock valued at $29,000 after buying an additional 9,791 shares in the last quarter. Lanham O Dell & Company Inc. boosted its stake in shares of Ocugen by 7.7% during the 3rd quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock worth $228,000 after acquiring an additional 10,000 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Ocugen by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock valued at $344,000 after acquiring an additional 11,000 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Ocugen by 56.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock valued at $36,000 after acquiring an additional 13,326 shares in the last quarter. Finally, Rinkey Investments lifted its holdings in Ocugen by 1.2% in the 2nd quarter. Rinkey Investments now owns 1,179,006 shares of the company’s stock worth $1,144,000 after purchasing an additional 14,500 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors.

About Ocugen

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.