Ocugen (NASDAQ:OCGN) CFO Acquires $25,830.00 in Stock

Ocugen, Inc. (NASDAQ:OCGN) CFO Treerita Essali Johnson-Greene purchased 21,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average price of $1.23 per share, for a total transaction of $25,830.00. Following the purchase, the chief financial officer owned 521,000 shares in the company, valued at $640,830. This represents a 4.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ocugen Stock Performance

Shares of OCGN stock opened at $1.24 on Friday. Ocugen, Inc. has a one year low of $0.90 and a one year high of $2.73. The company’s 50-day moving average is $1.48 and its 200 day moving average is $1.58. The company has a market capitalization of $419.76 million, a price-to-earnings ratio of -5.17 and a beta of 2.19. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.86 and a current ratio of 1.86.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $1.53 million for the quarter, compared to the consensus estimate of $0.42 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. Sell-side analysts expect that Ocugen, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

OCGN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Oppenheimer initiated coverage on Ocugen in a research note on Wednesday, March 11th. They set an “outperform” rating and a $10.00 target price on the stock. Canaccord Genuity Group decreased their price target on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Ocugen in a report on Wednesday, March 25th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OCGN. Hennion & Walsh Asset Management Inc. purchased a new stake in Ocugen in the fourth quarter worth approximately $1,358,000. UBS Group AG grew its position in Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after purchasing an additional 3,824,474 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Ocugen in the 4th quarter worth approximately $289,000. Cora Capital Advisors LLC raised its stake in Ocugen by 27.5% during the 4th 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 during the last quarter. Finally, Procyon Advisors LLC raised its stake in Ocugen by 6.2% during the 4th quarter. Procyon Advisors LLC now owns 224,100 shares of the company’s stock valued at $303,000 after buying an additional 13,000 shares during the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.