Ocugen (NASDAQ:OCGN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ocugen (NASDAQ:OCGN) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Ocugen Price Performance

Shares of NASDAQ:OCGN opened at $0.97 on Friday. The stock has a market capitalization of $329.65 million, a P/E ratio of -4.86 and a beta of 2.04. The business has a 50-day moving average of $0.97 and a two-hundred day moving average of $1.40. Ocugen has a fifty-two week low of $0.69 and a fifty-two week high of $2.73. The company has a debt-to-equity ratio of 4.17, a current ratio of 0.80 and a quick ratio of 0.80.

Insider Activity

In related news, CEO Shankar Musunuri sold 57,264 shares of the firm’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $0.95, for a total value of $54,400.80. Following the transaction, the chief executive officer directly owned 1,030,771 shares in the company, valued at approximately $979,232.45. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,051,982 shares of company stock worth $1,088,801. 3.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OCGN. Bank of America Corp DE bought a new stake in Ocugen during the 2nd quarter valued at approximately $3,046,000. Hennion & Walsh Asset Management Inc. grew its holdings in Ocugen by 121.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company’s stock valued at $4,331,000 after buying an additional 1,553,672 shares during the last quarter. BlackRock Inc. bought a new position in Ocugen in the 2nd quarter worth approximately $41,314,000. Headlands Technologies LLC increased its position in Ocugen by 527.1% in the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock worth $783,000 after buying an additional 429,997 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Ocugen in the 2nd quarter worth approximately $1,238,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Company Profile

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.