GSA Capital Partners LLP Has $1.16 Million Stake in Ocugen, Inc. (NASDAQ:OCGN)

Key Points

• GSA Capital Partners LLP increased its stake in Ocugen, Inc. by 43.0%, now owning approximately 1,638,033 shares valued at $1,157,000.
• Several institutional investors have recently acquired stakes in Ocugen, enhancing total institutional ownership to 10.27% of the company's stock.
• Analysts maintain a "buy" rating for Ocugen, with a target price of $7.00, despite the company's recent earnings showing a per-share loss of ($0.05).

GSA Capital Partners LLP boosted its position in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 43.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,638,033 shares of the company's stock after buying an additional 492,300 shares during the quarter. GSA Capital Partners LLP owned approximately 0.56% of Ocugen worth $1,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OCGN. Renaissance Technologies LLC bought a new position in shares of Ocugen during the 4th quarter worth approximately $1,681,000. Jane Street Group LLC boosted its holdings in Ocugen by 258.8% during the fourth quarter. Jane Street Group LLC now owns 496,177 shares of the company's stock worth $399,000 after purchasing an additional 357,891 shares during the last quarter. Geode Capital Management LLC grew its position in Ocugen by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company's stock valued at $5,305,000 after purchasing an additional 309,853 shares in the last quarter. Northern Trust Corp lifted its position in Ocugen by 10.4% during the 4th quarter. Northern Trust Corp now owns 2,407,137 shares of the company's stock worth $1,938,000 after buying an additional 227,150 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Ocugen by 149.2% during the 4th quarter. JPMorgan Chase & Co. now owns 296,615 shares of the company's stock worth $239,000 after buying an additional 177,594 shares in the last quarter. Institutional investors and hedge funds own 10.27% of the company's stock.

Ocugen Trading Down 3.5%

Shares of OCGN traded down $0.04 during midday trading on Friday, reaching $0.99. The stock had a trading volume of 4,432,743 shares, compared to its average volume of 3,505,140. The firm has a 50 day simple moving average of $1.03 and a 200-day simple moving average of $0.80. Ocugen, Inc. has a one year low of $0.52 and a one year high of $1.40. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.60 and a current ratio of 2.60.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OCGN shares. Chardan Capital reaffirmed a "buy" rating and issued a $7.00 target price on shares of Ocugen in a research report on Tuesday, June 24th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Ocugen in a research report on Tuesday, June 24th.

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.