Kirsten Castillo Sells 10,000 Shares of Ocugen, Inc. (NASDAQ:OCGN) Stock

Ocugen, Inc. (NASDAQ:OCGN) Director Kirsten Castillo sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the director now directly owns 65,000 shares in the company, valued at approximately $650,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of OCGN stock opened at $6.69 on Friday. Ocugen, Inc. has a 1 year low of $0.19 and a 1 year high of $18.77. The firm has a market cap of $1.33 billion, a PE ratio of -21.58 and a beta of 4.47. The firm’s fifty day moving average price is $8.76. The company has a current ratio of 12.00, a quick ratio of 12.00 and a debt-to-equity ratio of 0.04.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Friday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.54). As a group, sell-side analysts predict that Ocugen, Inc. will post 1.05 EPS for the current year.

Several analysts recently issued reports on the company. Chardan Capital cut their price target on Ocugen from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday. Roth Capital cut Ocugen from a “buy” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research cut Ocugen from a “hold” rating to a “sell” rating in a research report on Wednesday, May 26th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $11.00 target price (down from $15.00) on shares of Ocugen in a research report on Thursday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Ocugen has a consensus rating of “Hold” and a consensus target price of $7.20.

Hedge funds and other institutional investors have recently modified their holdings of the stock. LMR Partners LLP acquired a new position in shares of Ocugen in the 4th quarter worth $26,000. Victory Capital Management Inc. grew its holdings in shares of Ocugen by 29.2% in the 4th quarter. Victory Capital Management Inc. now owns 25,243 shares of the company’s stock worth $46,000 after acquiring an additional 5,712 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Ocugen in the 1st quarter worth $53,000. LPL Financial LLC acquired a new position in shares of Ocugen in the 4th quarter worth $59,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Ocugen in the 4th quarter worth $62,000. Institutional investors and hedge funds own 12.47% of the company’s stock.

Ocugen Company Profile

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.

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