Ocuphire Pharma Sees Unusually High Options Volume (NASDAQ:OCUP)

Ocuphire Pharma, Inc. (NASDAQ:OCUP) saw unusually large options trading activity on Wednesday. Investors bought 27,488 call options on the company. This represents an increase of approximately 16,165% compared to the average daily volume of 169 call options.

In related news, Director Jay Pepose purchased 12,631 shares of the stock in a transaction dated Monday, September 13th. The shares were acquired at an average cost of $4.75 per share, with a total value of $59,997.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in shares of Ocuphire Pharma by 779.4% during the 1st quarter. Morgan Stanley now owns 6,156 shares of the company’s stock worth $36,000 after purchasing an additional 5,456 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Ocuphire Pharma during the 1st quarter worth about $65,000. Millennium Management LLC purchased a new position in shares of Ocuphire Pharma during the 1st quarter worth about $74,000. Citadel Advisors LLC purchased a new position in shares of Ocuphire Pharma during the 2nd quarter worth about $75,000. Finally, Man Group plc purchased a new position in shares of Ocuphire Pharma during the 2nd quarter worth about $79,000. 5.81% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on OCUP shares. Zacks Investment Research raised shares of Ocuphire Pharma from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Thursday, November 18th. HC Wainwright started coverage on shares of Ocuphire Pharma in a research note on Wednesday. They issued a “buy” rating and a $26.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ocuphire Pharma presently has a consensus rating of “Buy” and an average price target of $19.58.

Shares of Ocuphire Pharma stock traded up $1.30 during mid-day trading on Wednesday, hitting $4.78. 1,703,275 shares of the stock were exchanged, compared to its average volume of 629,547. Ocuphire Pharma has a twelve month low of $3.35 and a twelve month high of $13.81. The company has a 50-day simple moving average of $4.42 and a 200 day simple moving average of $4.56.

Ocuphire Pharma (NASDAQ:OCUP) last released its quarterly earnings results on Friday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.11. As a group, analysts forecast that Ocuphire Pharma will post -4.16 EPS for the current year.

Ocuphire Pharma Company Profile

Ocuphire Pharma, Inc engages in the research and development of ophthalmic biopharmaceutical products. It focuses on developing and commercializing therapies for the treatment of several eye disorders. The company was founded by Mina Patel Soouch and Alan R. Meyer in February 2018 and is headquartered in Farmington Hills, MI.

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