Treerita Essali Johnson-Greene Acquires 21,000 Shares of Ocugen (NASDAQ:OCGN) Stock

Ocugen, Inc. (NASDAQ:OCGN) CFO Treerita Essali Johnson-Greene acquired 21,000 shares of Ocugen stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the purchase, the chief financial officer owned 521,000 shares of the company’s stock, valued at approximately $640,830. The trade was a 4.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ocugen Price Performance

OCGN opened at $1.24 on Friday. The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $1.58. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.86 and a current ratio of 1.86. Ocugen, Inc. has a 52 week low of $0.90 and a 52 week high of $2.73. The firm has a market capitalization of $419.76 million, a PE ratio of -5.17 and a beta of 2.19.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. The company had revenue of $1.53 million during the quarter, compared to analyst estimates of $0.42 million. As a group, analysts anticipate that Ocugen, Inc. will post -0.22 earnings per share for the current year.

Institutional Trading of Ocugen

Several hedge funds have recently added to or reduced their stakes in OCGN. UBS Group AG lifted its holdings in Ocugen by 373.2% during the fourth quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after acquiring an additional 3,824,474 shares in the last quarter. State Street Corp increased its holdings in shares of Ocugen by 193.6% in the fourth quarter. State Street Corp now owns 3,978,738 shares of the company’s stock worth $5,371,000 after acquiring an additional 2,623,361 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Ocugen in the fourth quarter worth about $3,417,000. Goldman Sachs Group Inc. raised its position in shares of Ocugen by 2,256.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,302,475 shares of the company’s stock worth $3,108,000 after purchasing an additional 2,204,765 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Ocugen by 485.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,700,400 shares of the company’s stock worth $2,296,000 after purchasing an additional 1,410,200 shares during the period. Institutional investors and hedge funds own 10.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OCGN. Chardan Capital reissued a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Wednesday, March 25th. Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Canaccord Genuity Group cut their price target on shares of Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Oppenheimer began coverage on shares of Ocugen in a research note on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

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.