Ocugen (NASDAQ:OCGN) Shares Break Above 50-Day Moving Average – Should You Sell?

Ocugen, Inc. (NASDAQ:OCGN)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $0.97 and traded as high as $0.9942. Ocugen shares last traded at $0.9721, with a volume of 9,344,732 shares trading hands.

Analyst Ratings Changes

OCGN has been the subject of a number of research analyst reports. Wall Street Zen raised Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Ocugen Stock Up 5.1%

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.17. The company’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.40. The firm has a market capitalization of $329.65 million, a PE ratio of -4.86 and a beta of 2.04.

Insider Buying and Selling at Ocugen

In other Ocugen news, CEO Shankar Musunuri sold 468,727 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $0.95, for a total transaction of $445,290.65. Following the transaction, the chief executive officer owned 4,018,470 shares in the company, valued at approximately $3,817,546.50. This represents a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,051,982 shares of company stock worth $1,088,801. 3.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ocugen

Hedge funds have recently made changes to their positions in the company. Cora Capital Advisors LLC boosted its position in shares of Ocugen by 31.7% during the third quarter. Cora Capital Advisors LLC now owns 117,520 shares of the company’s stock valued at $121,000 after purchasing an additional 28,300 shares in the last quarter. Engineers Gate Manager LP raised its holdings in Ocugen by 70.2% in the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock worth $28,000 after purchasing an additional 7,577 shares in the last quarter. NewEdge Advisors LLC lifted its position in Ocugen by 42.4% during the second quarter. NewEdge Advisors LLC now owns 237,180 shares of the company’s stock valued at $363,000 after buying an additional 70,585 shares during the period. AXQ Capital LP purchased a new position in Ocugen during the second quarter valued at $65,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Ocugen by 527.1% during the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after buying an additional 429,997 shares in the last quarter. 10.27% of the stock is currently 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.