Goldman Sachs Group Inc. Lowers Holdings in Ocugen, Inc. $OCGN

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Ocugen, Inc. by 27.3%, selling 225,168 shares to hold a total of 600,679 shares valued at approximately $424,000.
• Multiple institutional investors have shown varying interest in Ocugen, with GMT Capital Corp increasing its stake by 69.2% during the same quarter.
• Ocugen's financial performance includes a reported revenue of $1.37 million for the last quarter, which exceeded analysts' expectations and led to a slight earnings per share improvement.

Goldman Sachs Group Inc. cut its position in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,679 shares of the company's stock after selling 225,168 shares during the quarter. Goldman Sachs Group Inc. owned about 0.21% of Ocugen worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OCGN. GMT Capital Corp lifted its stake in Ocugen by 69.2% in the 1st quarter. GMT Capital Corp now owns 4,153,798 shares of the company's stock worth $2,934,000 after purchasing an additional 1,698,840 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Ocugen during the 1st quarter valued at $535,000. GSA Capital Partners LLP raised its position in shares of Ocugen by 43.0% during the 1st quarter. GSA Capital Partners LLP now owns 1,638,033 shares of the company's stock valued at $1,157,000 after buying an additional 492,300 shares in the last quarter. Jane Street Group LLC raised its position in shares of Ocugen by 258.8% during the 4th quarter. Jane Street Group LLC now owns 496,177 shares of the company's stock valued at $399,000 after buying an additional 357,891 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Ocugen by 3,799.2% during the 1st quarter. Deutsche Bank AG now owns 242,023 shares of the company's stock valued at $172,000 after buying an additional 235,816 shares in the last quarter. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OCGN. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of Ocugen from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $7.00 target price on shares of Ocugen in a report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $6.00.

Ocugen Price Performance

Shares of NASDAQ:OCGN opened at $1.46 on Friday. The stock has a market cap of $426.76 million, a PE ratio of -7.30 and a beta of 4.15. The company's fifty day moving average is $1.11 and its 200 day moving average is $0.92. Ocugen, Inc. has a 52 week low of $0.52 and a 52 week high of $1.78. 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 issued its earnings results on Friday, August 1st. The company reported ($0.05) EPS for the quarter, topping 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 net margin of 1,197.71% and a negative return on equity of 255.25%. Research analysts anticipate that Ocugen, Inc. will post -0.2 earnings per share for the current year.

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.

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