Headlands Technologies LLC Has $783,000 Stake in Ocugen, Inc. $OCGN

Headlands Technologies LLC boosted its position in shares of Ocugen, Inc. (NASDAQ:OCGN) by 527.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,575 shares of the company’s stock after acquiring an additional 429,997 shares during the quarter. Headlands Technologies LLC’s holdings in Ocugen were worth $783,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Two Sigma Securities LLC grew its position in shares of Ocugen by 116.9% in the 2nd quarter. Two Sigma Securities LLC now owns 156,027 shares of the company’s stock valued at $239,000 after acquiring an additional 84,100 shares during the period. GTS Securities LLC acquired a new position in shares of Ocugen during the 2nd quarter worth about $27,000. Wellington Management Group LLP bought a new stake in shares of Ocugen in the 2nd quarter valued at about $373,000. Bank of America Corp DE acquired a new stake in Ocugen in the 2nd quarter valued at about $3,046,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Ocugen in the 2nd quarter valued at about $156,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on OCGN. Canaccord Genuity Group lowered their price target on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Wall Street Zen lowered Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Insider Activity at Ocugen

In other news, CFO Treerita Essali Johnson-Greene bought 21,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares of the company’s stock, valued at $640,830. This trade represents a 4.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.95% of the company’s stock.

Ocugen Stock Performance

Shares of OCGN stock opened at $1.33 on Wednesday. Ocugen, Inc. has a 52 week low of $1.00 and a 52 week high of $2.73. The company has a market capitalization of $451.02 million, a price-to-earnings ratio of -5.12 and a beta of 2.20. The company has a 50-day simple moving average of $1.37 and a 200 day simple moving average of $1.55. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.89 million. On average, sell-side analysts predict that Ocugen, Inc. will post -0.25 earnings per share 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.