Ocugen (NASDAQ:OCGN) Stock Rating Upgraded by Wall Street Zen

Ocugen (NASDAQ:OCGN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Four 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Ocugen Stock Performance

Ocugen stock opened at $0.93 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 4.17. The firm has a market cap of $313.86 million, a P/E ratio of -4.62 and a beta of 2.04. Ocugen has a 1-year low of $0.69 and a 1-year high of $2.73. The firm has a 50-day moving average of $0.98 and a 200-day moving average of $1.41.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $0.89 million. Sell-side analysts expect that Ocugen will post -0.23 EPS for the current year.

Insider Activity at Ocugen

In other news, CEO Shankar Musunuri sold 57,264 shares of Ocugen stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $0.95, for a total transaction of $54,400.80. Following the sale, the chief executive officer owned 1,030,771 shares of the company’s stock, valued at approximately $979,232.45. The trade was a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,051,982 shares of company stock valued at $1,088,801. Company insiders own 3.95% of the company’s stock.

Hedge Funds Weigh In On Ocugen

Institutional investors have recently bought and sold shares of the stock. GTS Securities LLC purchased a new position in shares of Ocugen in the 2nd quarter valued at approximately $27,000. Engineers Gate Manager LP boosted its position in shares of Ocugen by 70.2% during the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after purchasing an additional 7,577 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Ocugen during the first quarter valued at approximately $34,000. Diversify Advisory Services LLC bought a new stake in shares of Ocugen during the second quarter valued at approximately $25,000. Finally, Legal & General Group Plc purchased a new stake in Ocugen in the second quarter worth $51,000. 10.27% of the stock is owned by institutional investors.

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.