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 on Monday, June 15th. The stock was acquired at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares in the company, valued at approximately $640,830. This trade represents a 4.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Ocugen Stock Performance

NASDAQ OCGN traded up $0.05 during trading on Wednesday, hitting $1.23. The company’s stock had a trading volume of 6,237,617 shares, compared to its average volume of 7,306,378. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 4.17. The firm has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.58. The firm has a market cap of $414.69 million, a P/E ratio of -5.10 and a beta of 2.19. Ocugen, Inc. has a 52 week low of $0.90 and a 52 week high of $2.73.

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

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently bought and sold shares of the business. CTC Alternative Strategies Ltd. acquired a new position in Ocugen in the first quarter worth $34,000. SmartHarvest Portfolios LLC acquired a new position in Ocugen in the fourth quarter worth $31,000. Schonfeld Strategic Advisors LLC acquired a new position in Ocugen in the fourth quarter worth $38,000. Cora Capital Advisors LLC lifted its stake in shares of Ocugen by 27.5% during the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock valued at $41,000 after acquiring an additional 6,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Ocugen by 28,222.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company’s stock valued at $41,000 after acquiring an additional 30,198 shares during the period. Institutional investors and hedge funds own 10.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Canaccord Genuity Group lowered their price objective on Ocugen from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Chardan Capital restated a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research report on Wednesday, March 25th. Oppenheimer assumed coverage on Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

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.