Bank of America Corp DE Sells 583,634 Shares of Ocugen, Inc. (NASDAQ:OCGN)

Bank of America Corp DE lowered its position in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 60.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,587 shares of the company's stock after selling 583,634 shares during the quarter. Bank of America Corp DE owned approximately 0.13% of Ocugen worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of OCGN. BNP Paribas Financial Markets purchased a new stake in Ocugen in the fourth quarter worth approximately $30,000. Ameriprise Financial Inc. purchased a new stake in Ocugen in the fourth quarter worth approximately $30,000. Virtu Financial LLC purchased a new stake in shares of Ocugen during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its stake in shares of Ocugen by 309.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock valued at $32,000 after purchasing an additional 30,120 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Ocugen during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 10.27% of the company's stock.

Ocugen Trading Down 5.8%

Shares of Ocugen stock traded down $0.07 during midday trading on Friday, reaching $1.13. 4,689,955 shares of the company's stock traded hands, compared to its average volume of 4,568,479. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $330.00 million, a PE ratio of -6.28 and a beta of 4.20. The stock has a 50 day moving average of $0.80 and a 200-day moving average of $0.76. Ocugen, Inc. has a 12 month low of $0.52 and a 12 month high of $1.98.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of $1.48 million during the quarter. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. As a group, equities analysts expect that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OCGN shares. HC Wainwright dropped their price objective on Ocugen from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Chardan Capital reissued a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research note on Monday, May 12th.

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.