Ocugen Target of Unusually Large Options Trading (NASDAQ:OCGN)

Ocugen, Inc. (NASDAQ:OCGN) was the recipient of some unusual options trading on Friday. Stock investors bought 6,390 call options on the stock. This represents an increase of approximately 89% compared to the average daily volume of 3,386 call options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GMT Capital Corp lifted its position in Ocugen by 69.2% during the first quarter. GMT Capital Corp now owns 4,153,798 shares of the company’s stock valued at $2,934,000 after purchasing an additional 1,698,840 shares during the period. Nuveen LLC purchased a new position in shares of Ocugen during the 1st quarter valued at about $535,000. Brevan Howard Capital Management LP acquired a new position in shares of Ocugen in the 2nd quarter valued at about $499,000. Vanguard Group Inc. lifted 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 buying an additional 450,904 shares during the period. Finally, UBS Group AG boosted 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 worth $1,671,000 after buying an additional 370,500 shares during the last quarter. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Analysts Set New Price Targets

OCGN has been the topic of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Ocugen in a research note on Wednesday, October 8th. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Chardan Capital restated a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Ocugen Stock Down 2.1%

Shares of OCGN stock opened at $1.41 on Friday. Ocugen has a fifty-two week low of $0.52 and a fifty-two week high of $1.90. The firm has a market capitalization of $440.37 million, a PE ratio of -6.41 and a beta of 4.54. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.85 and a current ratio of 1.85. The stock’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.24.

Ocugen (NASDAQ:OCGN) last issued its earnings results 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 analysts’ expectations of $0.44 million. Equities analysts expect that Ocugen will post -0.2 earnings per share for the current year.

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.