GSA Capital Partners LLP Has $1.16 Million Holdings 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 shares of Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 43.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,638,033 shares of the company's stock after acquiring an additional 492,300 shares during the quarter. GSA Capital Partners LLP owned 0.56% of Ocugen worth $1,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Ocugen by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 587,487 shares of the company's stock valued at $415,000 after acquiring an additional 42,286 shares in the last quarter. Rhumbline Advisers grew its stake in Ocugen by 6.4% during the first quarter. Rhumbline Advisers now owns 345,130 shares of the company's stock worth $244,000 after buying an additional 20,655 shares in the last quarter. Wellington Management Group LLP grew its stake in Ocugen by 10.5% during the fourth quarter. Wellington Management Group LLP now owns 507,495 shares of the company's stock worth $409,000 after buying an additional 48,393 shares in the last quarter. ProShare Advisors LLC grew its stake in Ocugen by 66.7% during the fourth quarter. ProShare Advisors LLC now owns 80,613 shares of the company's stock worth $65,000 after buying an additional 32,262 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Ocugen during the fourth quarter worth about $138,000. 10.27% of the stock is owned by institutional investors.

Ocugen Trading Down 3.5%

NASDAQ OCGN traded down $0.04 during trading hours on Friday, reaching $0.99. The company's stock had a trading volume of 4,432,743 shares, compared to its average volume of 3,505,140. The firm has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $0.81. The stock has a market cap of $290.16 million, a P/E ratio of -4.97 and a beta of 3.84. Ocugen, Inc. has a 52 week low of $0.52 and a 52 week high of $1.40. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.60 and a quick ratio of 2.60.

Ocugen (NASDAQ:OCGN - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.35 million. Ocugen had a negative net margin of 1,271.12% and a negative return on equity of 223.00%. Equities analysts forecast that Ocugen, Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research note on Tuesday, June 24th. Chardan Capital reissued a "buy" rating and issued a $7.00 target price on shares of Ocugen in a report on Tuesday, June 24th.

About Ocugen

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.