Ocugen (NASDAQ:OCGN) Stock Rating Upgraded by Wall Street Zen

Ocugen (NASDAQ:OCGN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. 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 presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Ocugen Price Performance

Ocugen stock opened at $1.02 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.17. Ocugen has a 12-month low of $0.97 and a 12-month high of $2.73. The firm’s fifty day moving average is $1.22 and its 200 day moving average is $1.43. The company has a market capitalization of $345.89 million, a PE ratio of -3.92 and a beta of 2.27.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.89 million. As a group, sell-side analysts predict that Ocugen will post -0.25 EPS for the current fiscal year.

Insider Transactions at Ocugen

In other Ocugen news, CEO Shankar Musunuri sold 468,727 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $1.12, for a total value of $524,974.24. Following the completion of the transaction, the chief executive officer owned 4,487,197 shares in the company, valued at $5,025,660.64. This represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.95% of the stock is owned by company insiders.

Institutional Trading of Ocugen

Several hedge funds have recently added to or reduced their stakes in the stock. GTS Securities LLC bought a new position in shares of Ocugen during the 2nd quarter valued at approximately $27,000. Engineers Gate Manager LP lifted its stake in Ocugen by 70.2% in the second quarter. Engineers Gate Manager LP now owns 18,368 shares of the company’s stock valued at $28,000 after purchasing an additional 7,577 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Ocugen during the first quarter valued at $34,000. Diversify Advisory Services LLC bought a new position in Ocugen during the second quarter valued at $25,000. Finally, Legal & General Group Plc bought a new stake in shares of Ocugen in the second quarter valued at $51,000. Institutional investors own 10.27% of the company’s stock.

Ocugen Company Profile

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and other serious medical conditions. The company’s platform includes modifier gene therapy, which is designed to address common disease pathways and potentially treat multiple genetic disorders with a single therapeutic approach.

Ocugen’s ophthalmic pipeline includes OCU400, an investigational gene therapy being developed for certain forms of retinitis pigmentosa, as well as OCU410 and OCU410ST, which are being studied for geographic atrophy associated with age-related macular degeneration.