Treerita Essali Johnson-Greene Buys 21,000 Shares of Ocugen (NASDAQ:OCGN) Stock

Ocugen, Inc. (NASDAQ:OCGN) CFO Treerita Essali Johnson-Greene purchased 21,000 shares of Ocugen stock in a transaction dated Monday, June 15th. The shares were purchased at an average price of $1.23 per share, with a total value of $25,830.00. Following the completion of the acquisition, the chief financial officer owned 521,000 shares in the company, valued at $640,830. The trade was a 4.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ocugen Stock Up 3.8%

Shares of Ocugen stock traded up $0.05 during trading on Wednesday, hitting $1.23. 6,237,617 shares of the stock traded hands, compared to its average volume of 7,306,378. The stock has a market cap of $414.69 million, a P/E ratio of -5.10 and a beta of 2.19. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.86 and a current ratio of 1.86. Ocugen, Inc. has a twelve month low of $0.90 and a twelve month high of $2.73. The company has a fifty day moving average price of $1.51 and a two-hundred day moving average price of $1.58.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $1.53 million for the quarter, compared to analyst estimates of $0.42 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. Equities research analysts predict that Ocugen, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

OCGN has been the subject of several research reports. Chardan Capital reiterated a “buy” rating and set a $7.00 price target on shares of Ocugen in a report on Wednesday, March 25th. Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group reduced their target price on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Wall Street Zen upgraded Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HC Wainwright boosted their target price on Ocugen from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ocugen has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Institutional Investors Weigh In On Ocugen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in Ocugen in the 4th quarter worth approximately $1,358,000. UBS Group AG increased its position in Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock worth $6,547,000 after buying an additional 3,824,474 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Ocugen in the 4th quarter worth approximately $289,000. Cora Capital Advisors LLC increased its position in 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 buying an additional 6,500 shares during the period. Finally, Procyon Advisors LLC increased its position in Ocugen by 6.2% in the 4th quarter. Procyon Advisors LLC now owns 224,100 shares of the company’s stock worth $303,000 after buying an additional 13,000 shares during the period. 10.27% of the stock is currently owned by institutional investors and hedge funds.

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.