Ocugen (NASDAQ:OCGN) Trading Down 5.9% – Should You Sell?

Ocugen, Inc. (NASDAQ:OCGN) shares traded down 5.9% during mid-day trading on Tuesday . The company traded as low as $1.67 and last traded at $1.6750. 4,143,754 shares changed hands during trading, a decline of 14% from the average session volume of 4,794,986 shares. The stock had previously closed at $1.78.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Chardan Capital restated a “buy” rating and issued a $7.00 price objective on shares of Ocugen in a research note on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.00.

Ocugen Trading Up 5.3%

The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 8.04. The company’s fifty day moving average price is $1.33 and its two-hundred day moving average price is $1.27. The firm has a market cap of $585.60 million, a PE ratio of -8.52 and a beta of 3.50.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 491.22%. The firm had revenue of $3.50 million during the quarter, compared to analyst estimates of $0.44 million. As a group, sell-side analysts forecast that Ocugen, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OCGN. Brevan Howard Capital Management LP purchased a new stake in shares of Ocugen during the 2nd quarter worth $499,000. Vanguard Group Inc. increased its holdings in shares of Ocugen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,223,585 shares of the company’s stock valued at $24,814,000 after purchasing an additional 450,904 shares in the last quarter. UBS Group AG lifted its stake in shares of Ocugen by 56.6% in the third quarter. UBS Group AG now owns 1,024,879 shares of the company’s stock valued at $1,671,000 after purchasing an additional 370,500 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Ocugen during the second quarter worth about $333,000. Finally, XTX Topco Ltd boosted its holdings in Ocugen by 117.2% during the third quarter. XTX Topco Ltd now owns 455,293 shares of the company’s stock worth $742,000 after buying an additional 245,671 shares in the last quarter. 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.