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

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

Separately, Weiss Ratings raised Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Ocugen Price Performance

Ocugen stock opened at $0.74 on Friday. The stock has a market cap of $250.84 million, a price-to-earnings ratio of -2.85 and a beta of 2.27. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.17. The company’s 50-day moving average price is $1.10 and its two-hundred day moving average price is $1.32. Ocugen has a 52 week low of $0.73 and a 52 week high of $2.73.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $1.49 million for the quarter, compared to the consensus estimate of $0.89 million. On average, analysts expect that Ocugen will post -0.25 EPS for the current fiscal year.

Insider Activity at Ocugen

In related news, CEO Shankar Musunuri sold 57,264 shares of the stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $0.95, for a total value of $54,400.80. Following the transaction, the chief executive officer owned 1,030,771 shares in the company, valued at approximately $979,232.45. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,051,982 shares of company stock valued at $1,088,801. Insiders own 3.95% of the company’s stock.

Institutional Trading of Ocugen

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its position in shares of 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. GTS Securities LLC acquired a new position in shares of Ocugen during the 2nd quarter worth about $27,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Ocugen during the 1st quarter worth about $34,000. Diversify Advisory Services LLC bought a new stake in Ocugen during the 2nd quarter valued at approximately $25,000. Finally, NewEdge Advisors LLC boosted its stake in Ocugen by 23.0% during the 1st quarter. NewEdge Advisors LLC now owns 166,595 shares of the company’s stock valued at $302,000 after purchasing an additional 31,135 shares during the period. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Company Profile

Ocugen, Inc (NASDAQ: OCGN) is a biotechnology company focused on developing gene and cell therapies for blindness diseases and vaccines for infectious diseases. The company’s programs are designed to address serious conditions with limited treatment options, including inherited retinal diseases and diseases affecting the central retina.

Ocugen’s pipeline includes modifier gene therapy candidates intended to treat multiple retinal disorders with a single therapeutic approach. Its lead programs include OCU400 for retinitis pigmentosa, OCU410 for geographic atrophy associated with dry age-related macular degeneration, and OCU410ST for Stargardt disease.