Ocugen, Inc. (NASDAQ:OCGN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Ocugen, Inc. (NASDAQ:OCGN) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.50.

Several equities analysts have commented on OCGN shares. Wall Street Zen downgraded shares of Ocugen from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. Weiss Ratings upgraded shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th.

Insiders Place Their Bets

In other Ocugen news, CEO Shankar Musunuri sold 57,264 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $0.95, for a total transaction of $54,400.80. Following the transaction, the chief executive officer owned 1,030,771 shares in the company, valued at approximately $979,232.45. This represents a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,051,982 shares of company stock worth $1,088,801. Corporate insiders own 3.95% of the company’s stock.

Institutional Investors Weigh In On Ocugen

Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its position in shares of Ocugen by 70.2% in the 2nd quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock worth $28,000 after purchasing an additional 7,577 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Ocugen by 42.4% in the 2nd quarter. NewEdge Advisors LLC now owns 237,180 shares of the company’s stock valued at $363,000 after purchasing an additional 70,585 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Ocugen during the second quarter worth about $65,000. Headlands Technologies LLC grew its stake in Ocugen by 527.1% in the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after acquiring an additional 429,997 shares during the last quarter. Finally, Two Sigma Securities LLC lifted its holdings in shares of Ocugen by 116.9% during the 2nd quarter. Two Sigma Securities LLC now owns 156,027 shares of the company’s stock worth $239,000 after acquiring an additional 84,100 shares during the period. 10.27% of the stock is owned by institutional investors.

Ocugen Price Performance

NASDAQ:OCGN opened at $0.70 on Wednesday. Ocugen has a 1-year low of $0.69 and a 1-year high of $2.73. The business’s fifty day moving average price is $1.03 and its 200 day moving average price is $1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.17. The firm has a market capitalization of $238.29 million, a price-to-earnings ratio of -2.70 and a beta of 2.05.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.89 million. On average, sell-side analysts forecast that Ocugen will post -0.25 earnings per share for the current fiscal year.

About Ocugen

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and vaccines for infectious diseases. The company’s programs are designed to address serious conditions with limited treatment options, including inherited retinal diseases and diseases affecting the central retina.

Ocugen’s pipeline includes modifier gene therapy candidates intended to treat multiple retinal disorders with a single therapeutic approach. Its lead programs include OCU400 for retinitis pigmentosa, OCU410 for geographic atrophy associated with dry age-related macular degeneration, and OCU410ST for Stargardt disease.