Bank of America Corp DE Grows Stock Position in Ocugen, Inc. $OCGN

Bank of America Corp DE lifted its position in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 1,090.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,174,180 shares of the company's stock after acquiring an additional 1,075,508 shares during the period. Bank of America Corp DE owned 0.35% of Ocugen worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. UBS Group AG raised its position in Ocugen by 373.2% in the fourth quarter. UBS Group AG now owns 4,849,353 shares of the company's stock worth $6,547,000 after acquiring an additional 3,824,474 shares in the last quarter. State Street Corp grew its holdings in Ocugen by 193.6% during the 4th quarter. State Street Corp now owns 3,978,738 shares of the company's stock worth $5,371,000 after acquiring an additional 2,623,361 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ocugen during the fourth quarter worth about $3,417,000. Goldman Sachs Group Inc. grew its position in Ocugen by 2,256.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,302,475 shares of the company's stock worth $3,108,000 after purchasing an additional 2,204,765 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Ocugen by 485.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,700,400 shares of the company's stock valued at $2,296,000 after buying an additional 1,410,200 shares in the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen Stock Performance

Shares of NASDAQ OCGN opened at $1.32 on Thursday. The business's 50-day moving average price is $1.37 and its two-hundred day moving average price is $1.55. The company has a debt-to-equity ratio of 4.17, a current ratio of 0.80 and a quick ratio of 0.80. Ocugen, Inc. has a one year low of $1.01 and a one year high of $2.73. The company has a market capitalization of $447.63 million, a P/E ratio of -5.08 and a beta of 2.20.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $0.89 million. Analysts anticipate that Ocugen, Inc. will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Ocugen

In other news, CFO Treerita Essali Johnson-Greene acquired 21,000 shares of the stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $1.23 per share, for a total transaction of $25,830.00. Following the completion of the transaction, the chief financial officer owned 521,000 shares in the company, valued at approximately $640,830. This trade represents a 4.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OCGN shares. Weiss Ratings upgraded shares of Ocugen from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Wall Street Zen cut shares of Ocugen from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Ocugen from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Ocugen 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.

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