UBS Group AG Raises Stock Position in Ocugen, Inc. $OCGN

UBS Group AG boosted its position in shares of Ocugen, Inc. (NASDAQ:OCGN) by 373.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,849,353 shares of the company’s stock after acquiring an additional 3,824,474 shares during the period. UBS Group AG owned 1.55% of Ocugen worth $6,547,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Creative Planning bought a new stake in Ocugen during the second quarter valued at approximately $57,000. XTX Topco Ltd bought a new stake in Ocugen during the second quarter valued at approximately $203,000. Jump Financial LLC bought a new stake in Ocugen during the second quarter valued at approximately $57,000. Qube Research & Technologies Ltd bought a new stake in Ocugen during the second quarter valued at approximately $188,000. Finally, NewEdge Advisors LLC lifted its position in Ocugen by 198.0% during the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after purchasing an additional 24,460 shares during the last quarter. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OCGN. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ocugen in a research report on Wednesday, March 25th. Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a research report on Saturday. Oppenheimer began coverage on shares of Ocugen in a research report on Wednesday, March 11th. They set an “outperform” rating and a $10.00 target price for the company. HC Wainwright lifted their target price on shares of Ocugen from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 25th. Finally, Canaccord Genuity Group began coverage on shares of Ocugen in a research report on Tuesday, March 17th. They set a “buy” rating and a $12.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.75.

Ocugen Trading Down 3.0%

Shares of OCGN opened at $1.30 on Wednesday. The firm has a market cap of $440.08 million, a price-to-earnings ratio of -5.42 and a beta of 2.30. 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 fifty-two week low of $0.73 and a fifty-two week high of $2.73. The firm has a 50 day moving average price of $1.81 and a 200-day moving average price of $1.58.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $1.53 million during the quarter, compared to the consensus estimate of $0.42 million. Ocugen had a negative return on equity of 127,987.80% and a negative net margin of 1,192.18%. As a group, equities research analysts forecast that Ocugen, Inc. will post -0.22 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.