UBS Group AG Acquires 3,824,474 Shares of Ocugen, Inc. $OCGN

UBS Group AG increased its position in Ocugen, Inc. (NASDAQ:OCGN) by 373.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,849,353 shares of the company’s stock after purchasing an additional 3,824,474 shares during the period. UBS Group AG’s holdings in Ocugen were worth $6,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in Ocugen in the 4th quarter worth $1,358,000. Qube Research & Technologies Ltd bought a new stake in Ocugen in the 2nd quarter worth $188,000. Jefferies Financial Group Inc. bought a new stake in Ocugen in the 3rd quarter worth $175,000. Scientech Research LLC bought a new stake in Ocugen in the 3rd quarter worth $171,000. Finally, NewEdge Advisors LLC grew its holdings in Ocugen by 117.7% in the 3rd quarter. NewEdge Advisors LLC now owns 80,155 shares of the company’s stock worth $131,000 after acquiring an additional 43,341 shares during the last quarter. 10.27% of the stock is currently owned by institutional investors.

Ocugen Stock Down 3.0%

Shares of Ocugen stock opened at $1.30 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 4.17. The company’s fifty day simple moving average is $1.81 and its two-hundred day simple moving average is $1.58. The company has a market cap of $440.08 million, a P/E ratio of -5.42 and a beta of 2.30. Ocugen, Inc. has a 12-month low of $0.73 and a 12-month high of $2.73.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on OCGN shares. Wall Street Zen raised shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright raised their price target on shares of Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Chardan Capital reissued a “buy” rating and issued a $7.00 price target on shares of Ocugen in a report on Wednesday, March 25th. Oppenheimer started coverage on shares of Ocugen in a report on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, Canaccord Genuity Group started coverage on shares of Ocugen in a report on Tuesday, March 17th. They issued a “buy” rating and a $12.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.75.

About Ocugen

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.