Ocugen, Inc. (NASDAQ:OCGN) Short Interest Update

Ocugen, Inc. (NASDAQ:OCGN) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 46,392,427 shares, a drop of 21.4% from the December 15th total of 58,994,853 shares. Based on an average daily volume of 4,081,573 shares, the days-to-cover ratio is presently 11.4 days. Currently, 15.5% of the shares of the company are short sold. Currently, 15.5% of the shares of the company are short sold. Based on an average daily volume of 4,081,573 shares, the days-to-cover ratio is presently 11.4 days.

Institutional Trading of Ocugen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Ocugen by 3.1% during the third quarter. Vanguard Group Inc. now owns 15,223,585 shares of the company’s stock worth $24,814,000 after buying an additional 450,904 shares in the last quarter. Rinkey Investments lifted its position in shares of Ocugen by 1.2% during the 2nd quarter. Rinkey Investments now owns 1,179,006 shares of the company’s stock valued at $1,144,000 after acquiring an additional 14,500 shares during the last quarter. UBS Group AG boosted its stake in shares of Ocugen by 56.6% during the 3rd quarter. UBS Group AG now owns 1,024,879 shares of the company’s stock worth $1,671,000 after acquiring an additional 370,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Ocugen in the 4th quarter worth $1,358,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Ocugen in the 2nd quarter worth $499,000. 10.27% of the stock is currently owned by institutional investors.

Ocugen Price Performance

Shares of OCGN stock traded up $0.07 during mid-day trading on Friday, hitting $1.69. 8,176,668 shares of the stock traded hands, compared to its average volume of 5,101,512. Ocugen has a twelve month low of $0.52 and a twelve month high of $1.96. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85. The company’s 50-day simple moving average is $1.36 and its 200-day simple moving average is $1.29. The firm has a market cap of $527.82 million, a price-to-earnings ratio of -7.68 and a beta of 3.50.

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

Wall Street Analysts Forecast Growth

OCGN has been the subject of several analyst reports. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

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.