Ocugen (NASDAQ:OCGN) Cut to “Sell” at Wall Street Zen

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

Several other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Ocugen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Canaccord Genuity Group dropped their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Ocugen currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Ocugen Price Performance

Shares of NASDAQ OCGN opened at $1.31 on Friday. The stock has a fifty day moving average price of $1.34 and a 200 day moving average price of $1.56. Ocugen has a 1-year low of $0.96 and a 1-year 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. The company has a market cap of $444.23 million, a PE ratio of -5.04 and a beta of 2.21.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $0.89 million. Sell-side analysts forecast that Ocugen will post -0.22 EPS for the current year.

Insider Buying and Selling at Ocugen

In related news, CFO Treerita Essali Johnson-Greene purchased 21,000 shares of the stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $1.23 per share, with a total value of $25,830.00. Following the purchase, the chief financial officer directly owned 521,000 shares in the company, valued at $640,830. This trade represents a 4.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.95% of the stock is currently owned by company insiders.

Institutional Trading of Ocugen

Institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Ocugen by 121.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company’s stock worth $4,331,000 after acquiring an additional 1,553,672 shares in the last quarter. UBS Group AG increased its stake in Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after purchasing an additional 3,824,474 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Ocugen in the 4th quarter valued at approximately $289,000. Cora Capital Advisors LLC increased its stake in Ocugen by 27.5% in the 4th quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after purchasing an additional 6,500 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new position in Ocugen during the first quarter worth $34,000. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

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.