Ocugen Sees Unusually High Options Volume (NASDAQ:OCGN)

Ocugen, Inc. (NASDAQ:OCGN) saw some unusual options trading activity on Friday. Stock traders acquired 6,390 call options on the stock. This represents an increase of approximately 89% compared to the average daily volume of 3,386 call options.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OCGN. Wall Street Zen raised shares of Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research note on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ocugen presently has an average rating of “Hold” and an average price target of $7.00.

Institutional Trading of Ocugen

A number of large investors have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Ocugen during the first quarter worth about $535,000. Procyon Advisors LLC acquired a new stake in shares of Ocugen in the second quarter valued at approximately $194,000. Y Intercept Hong Kong Ltd bought a new position in shares of Ocugen during the 2nd quarter worth approximately $333,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Ocugen during the 1st quarter worth approximately $28,000. Finally, GMT Capital Corp raised its stake in Ocugen by 69.2% in the 1st quarter. GMT Capital Corp now owns 4,153,798 shares of the company’s stock valued at $2,934,000 after acquiring an additional 1,698,840 shares during the period. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Stock Down 2.4%

Shares of NASDAQ OCGN traded down $0.04 during mid-day trading on Friday, hitting $1.41. The company had a trading volume of 1,373,272 shares, compared to its average volume of 4,459,376. Ocugen has a one year low of $0.52 and a one year high of $1.90. The company has a market capitalization of $438.81 million, a PE ratio of -6.39 and a beta of 4.54. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 8.04. The firm has a 50-day simple moving average of $1.35 and a two-hundred day simple moving average of $1.24.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 491.22%. The company had revenue of $3.50 million for the quarter, compared to analyst estimates of $0.44 million. On average, equities analysts expect that Ocugen will post -0.2 EPS for the current year.

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.