Ocugen (NASDAQ:OCGN) Hits New 52-Week High – Time to Buy?

Ocugen, Inc. (NASDAQ:OCGN)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $1.96 and last traded at $1.9450, with a volume of 8388727 shares trading hands. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OCGN. Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a report on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and issued a $7.00 price target on shares of Ocugen in a research note on Tuesday, January 20th. Two 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.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

Ocugen Stock Up 6.6%

The stock has a 50-day moving average of $1.54 and a 200-day moving average of $1.40. The firm has a market cap of $605.90 million, a price-to-earnings ratio of -8.82 and a beta of 2.75. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.85 and a quick ratio of 1.85.

Institutional Investors Weigh In On Ocugen

A number of large investors have recently bought and sold shares of OCGN. SmartHarvest Portfolios LLC acquired a new position in Ocugen during the fourth quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its holdings in shares of Ocugen by 56.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after buying an additional 13,326 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after buying an additional 24,460 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Ocugen in the fourth quarter valued at about $38,000. Finally, Cora Capital Advisors LLC boosted its stake in Ocugen by 27.5% in the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after buying an additional 6,500 shares in the last quarter. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.