Short Interest in Ocugen, Inc. (NASDAQ:OCGN) Grows By 22.8%

Ocugen, Inc. (NASDAQ:OCGN) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 43,480,000 shares, an increase of 22.8% from the March 15th total of 35,400,000 shares. Based on an average daily volume of 8,220,000 shares, the days-to-cover ratio is currently 5.3 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Ocugen in a report on Wednesday, April 3rd.

Ocugen Trading Down 7.0 %

Shares of NASDAQ:OCGN traded down $0.12 during midday trading on Monday, reaching $1.59. The company’s stock had a trading volume of 6,845,119 shares, compared to its average volume of 8,232,701. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 0.03. The firm has a market cap of $407.84 million, a price-to-earnings ratio of -4.65 and a beta of 3.51. The business has a 50 day moving average price of $1.14 and a 200 day moving average price of $0.69. Ocugen has a 1 year low of $0.35 and a 1 year high of $2.11.

Institutional Investors Weigh In On Ocugen

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in Ocugen by 5.0% in the 2nd quarter. State Street Corp now owns 30,617,946 shares of the company’s stock worth $69,503,000 after acquiring an additional 1,464,242 shares during the period. BlackRock Inc. grew its holdings in Ocugen by 0.3% during the 1st quarter. BlackRock Inc. now owns 15,111,920 shares of the company’s stock valued at $12,892,000 after purchasing an additional 50,559 shares in the last quarter. Vanguard Group Inc. increased its stake in Ocugen by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 12,039,918 shares of the company’s stock worth $6,923,000 after buying an additional 114,366 shares during the period. Geode Capital Management LLC lifted its holdings in Ocugen by 12.5% in the 1st quarter. Geode Capital Management LLC now owns 4,661,333 shares of the company’s stock worth $3,977,000 after buying an additional 517,806 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ocugen by 20.9% in the first quarter. JPMorgan Chase & Co. now owns 4,015,742 shares of the company’s stock worth $13,251,000 after acquiring an additional 693,786 shares in the last quarter. Hedge funds and other institutional investors own 10.27% of the company’s stock.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.