GMT Capital Corp Buys 1,698,840 Shares of Ocugen, Inc. $OCGN

Key Points

• GMT Capital Corp increased its holdings in Ocugen, Inc. by 69.2% during Q1, now owning approximately 4.15 million shares worth $2.93 million.
• Multiple institutional investors, including Deutsche Bank AG, have significantly raised their stakes in Ocugen, contributing to institutional ownership of 10.27% of the company.
• Ocugen reported revenues of $1.37 million in its latest earnings, exceeding analysts' expectations, and had a negative EPS of ($0.05) for the quarter.

GMT Capital Corp boosted its stake in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 69.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,153,798 shares of the company's stock after acquiring an additional 1,698,840 shares during the period. GMT Capital Corp owned 1.42% of Ocugen worth $2,934,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Ocugen in the fourth quarter valued at approximately $30,000. Ameriprise Financial Inc. acquired a new position in Ocugen in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC lifted its stake in Ocugen by 309.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock valued at $32,000 after buying an additional 30,120 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Ocugen in the first quarter valued at approximately $28,000. Finally, Two Sigma Securities LLC raised its position in shares of Ocugen by 92.9% during the fourth quarter. Two Sigma Securities LLC now owns 51,909 shares of the company's stock worth $42,000 after purchasing an additional 25,004 shares during the period. 10.27% of the stock is owned by institutional investors and hedge funds.

Ocugen Stock Performance

Shares of OCGN stock traded down $0.03 on Thursday, hitting $1.03. 540,245 shares of the stock were exchanged, compared to its average volume of 4,326,218. The firm has a market capitalization of $299.61 million, a PE ratio of -5.12 and a beta of 4.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 9.18. Ocugen, Inc. has a one year low of $0.52 and a one year high of $1.29. The firm's 50 day moving average is $1.03 and its two-hundred day moving average is $0.85.

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

Analyst Upgrades and Downgrades

OCGN has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $7.00 target price on shares of Ocugen in a research report on Tuesday, June 24th. Chardan Capital reissued a "buy" rating and issued a $7.00 price target on shares of Ocugen in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $6.00.

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.