200,100 Shares in Ocugen, Inc. $OCGN Acquired by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC acquired 200,100 shares of Ocugen, Inc. valued at approximately $194,000, marking their entry into the company.
• Ocugen's stock had an average price target of $6.00 with multiple analysts issuing "buy" ratings, including HC Wainwright and Chardan Capital.
• As of the latest report, Ocugen experienced a 4.3% decline in share price, trading at $1.34 with a market capitalization of $391.68 million.

Procyon Advisors LLC purchased a new stake in Ocugen, Inc. (NASDAQ:OCGN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 200,100 shares of the company's stock, valued at approximately $194,000. Procyon Advisors LLC owned 0.07% of Ocugen at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Ocugen by 6.4% during the first quarter. Rhumbline Advisers now owns 345,130 shares of the company's stock worth $244,000 after buying an additional 20,655 shares in the last quarter. Lanham O Dell & Company Inc. bought a new stake in Ocugen during the first quarter worth approximately $82,000. GMT Capital Corp boosted its holdings in Ocugen by 69.2% during the first quarter. GMT Capital Corp now owns 4,153,798 shares of the company's stock worth $2,934,000 after buying an additional 1,698,840 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Ocugen during the first quarter worth approximately $28,000. Finally, Nuveen LLC bought a new stake in Ocugen during the first quarter worth approximately $535,000. Institutional investors and hedge funds own 10.27% of the company's stock.

Ocugen Stock Up 9.7%

OCGN traded up $0.14 during trading hours on Tuesday, hitting $1.53. 3,633,555 shares of the company's stock were exchanged, compared to its average volume of 4,357,344. Ocugen, Inc. has a 1-year low of $0.52 and a 1-year high of $1.55. The stock's 50-day moving average is $1.06 and its two-hundred day moving average is $0.90. The stock has a market cap of $445.76 million, a price-to-earnings ratio of -7.67 and a beta of 4.16. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 9.18.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The firm had revenue of $1.37 million during the quarter, compared to analysts' expectations of $0.35 million. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 255.25%. Sell-side analysts predict that Ocugen, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OCGN has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Ocugen from a "sell" rating to a "hold" rating in a research note on Saturday. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Ocugen in a report on Tuesday, June 24th. Finally, Chardan Capital reiterated a "buy" rating and issued a $7.00 target price on shares of Ocugen in a report on Friday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $6.00.

Ocugen Profile

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients' health. The company's pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.