Ocugen (NASDAQ:OCGN) Shares Down 4.6% – Should You Sell?

Ocugen, Inc. (NASDAQ:OCGN)’s stock price was down 4.6% during trading on Monday . The company traded as low as $2.43 and last traded at $2.3650. Approximately 4,512,594 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 6,907,648 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

OCGN has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research note on Thursday, January 22nd. Oppenheimer assumed coverage on shares of Ocugen in a research note on Wednesday, March 11th. They issued an “outperform” rating and a $10.00 price objective for the company. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ocugen in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered shares of Ocugen from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Ocugen Trading Down 5.0%

The business has a fifty day moving average of $1.65 and a 200-day moving average of $1.47. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $772.20 million, a P/E ratio of -10.28 and a beta of 2.75.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of ($0.19) million for the quarter, compared to the consensus estimate of $0.86 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 2,626.38%. Analysts anticipate that Ocugen, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Ocugen

Institutional investors and hedge funds have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new position in shares of Ocugen during the fourth quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its position in Ocugen by 56.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock valued at $36,000 after buying an additional 13,326 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after acquiring an additional 24,460 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Ocugen during the 4th quarter worth $38,000. Finally, Cora Capital Advisors LLC grew its stake in shares of Ocugen by 27.5% in the 4th quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock worth $41,000 after acquiring an additional 6,500 shares in the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

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.