Bank of America Corp DE Lowers Position in Ocugen, Inc. (NASDAQ:OCGN)

Bank of America Corp DE cut its position in shares of 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 & Exchange Commission. The firm owned 378,587 shares of the company's stock after selling 583,634 shares during the quarter. Bank of America Corp DE owned about 0.13% of Ocugen worth $305,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Rhumbline Advisers boosted its position in Ocugen by 12.9% during the fourth quarter. Rhumbline Advisers now owns 324,475 shares of the company's stock valued at $261,000 after acquiring an additional 37,034 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Ocugen in the 4th quarter worth about $132,000. SBI Securities Co. Ltd. acquired a new position in shares of Ocugen in the 4th quarter valued at about $40,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ocugen by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company's stock valued at $692,000 after purchasing an additional 93,288 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Ocugen during the fourth quarter worth approximately $32,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Stock Down 6.0%

Shares of OCGN stock traded down $0.07 on Tuesday, reaching $1.09. 5,187,841 shares of the company were exchanged, compared to its average volume of 4,576,519. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.60 and a quick ratio of 2.60. The company has a 50-day moving average of $0.82 and a 200-day moving average of $0.76. The company has a market cap of $318.31 million, a price-to-earnings ratio of -5.74 and a beta of 4.20. Ocugen, Inc. has a one year low of $0.52 and a one year high of $1.98.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $1.48 million for the quarter. Ocugen had a negative return on equity of 223.00% and a negative net margin of 1,271.12%. Analysts anticipate that Ocugen, Inc. will post -0.2 earnings per share for the current year.

Analyst Ratings Changes

OCGN has been the topic of several recent analyst reports. HC Wainwright dropped their price target on Ocugen from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Chardan Capital reiterated a "buy" rating and issued a $7.00 price objective on shares of Ocugen in a research note on Monday, May 12th.

Ocugen Company 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.