Ocugen (NASDAQ:OCGN) Short Interest Down 66.8% in July

Ocugen (NASDAQ:OCGN) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 107,800 shares, a decrease of 66.8% from the June 30th total of 325,100 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 17,440,000 shares, the days-to-cover ratio is presently 0.0 days.

An institutional investor recently raised its position in Ocugen stock. UBS Group AG grew its holdings in shares of Ocugen (NASDAQ:OCGN) by 964.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,091 shares of the company’s stock after buying an additional 162,266 shares during the quarter. UBS Group AG owned 0.24% of Ocugen worth $39,000 as of its most recent SEC filing. Institutional investors own 3.02% of the company’s stock.

Ocugen stock opened at $0.52 on Friday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $0.28 and a 200-day moving average of $0.38. Ocugen has a 52 week low of $0.17 and a 52 week high of $17.40.

Ocugen (NASDAQ:OCGN) last released its earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). On average, analysts forecast that Ocugen will post -0.17 earnings per share for the current year.

A number of equities analysts have weighed in on OCGN shares. Chardan Capital decreased their price target on Ocugen from $2.00 to $0.70 and set a “buy” rating for the company in a report on Wednesday, June 3rd. Zacks Investment Research upgraded Ocugen from a “sell” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, HC Wainwright cut Ocugen from a “buy” rating to a “neutral” rating in a report on Monday, June 1st.

Ocugen Company Profile

Ocugen, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. The company offers an ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules, as well as targets a range of retinal and ocular surface diseases.

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