Hennion & Walsh Asset Management Inc. Invests $1.36 Million in Ocugen, Inc. $OCGN

Hennion & Walsh Asset Management Inc. bought a new position in shares of Ocugen, Inc. (NASDAQ:OCGN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,005,981 shares of the company’s stock, valued at approximately $1,358,000. Hennion & Walsh Asset Management Inc. owned 0.32% of Ocugen as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of OCGN. Lanham O Dell & Company Inc. lifted its position in Ocugen by 7.7% during the third quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock worth $228,000 after acquiring an additional 10,000 shares during the last quarter. Procyon Advisors LLC grew its position in shares of Ocugen by 5.5% in the third quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock valued at $344,000 after purchasing an additional 11,000 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ocugen by 56.7% during the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock worth $36,000 after purchasing an additional 13,326 shares during the period. NewEdge Advisors LLC lifted its holdings in Ocugen by 198.0% during the 2nd quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock worth $36,000 after purchasing an additional 24,460 shares during the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in Ocugen in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 10.27% of the company’s stock.

Ocugen Stock Performance

OCGN opened at $1.79 on Friday. The firm has a market cap of $586.94 million, a P/E ratio of -7.78 and a beta of 2.80. Ocugen, Inc. has a 52-week low of $0.57 and a 52-week high of $2.73. 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 business’s fifty day moving average is $1.76 and its 200-day moving average is $1.56.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of ($0.19) million during the quarter, compared to the consensus estimate of $0.86 million. Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%. Sell-side analysts expect that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

OCGN has been the topic of several recent research reports. Oppenheimer began coverage on Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 price objective on the stock. Chardan Capital reissued a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a research report on Thursday, January 22nd. HC Wainwright lifted their price objective on shares of Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Finally, Wall Street Zen raised shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

About Ocugen

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.