756,926 Shares in Ocugen, Inc. $OCGN Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Ocugen, Inc., purchasing 756,926 shares valued at approximately $535,000, representing 0.26% of the company.
• Several hedge funds have increased their positions in Ocugen, with Jane Street Group LLC significantly boosting its stake by 258.8% in the fourth quarter.
• Analysts have given Ocugen a consensus rating of "Buy" with a target price of $6.00, despite the company's recent share performance showing a decline of 1.9%.

Nuveen LLC acquired a new position in shares of Ocugen, Inc. (NASDAQ:OCGN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 756,926 shares of the company's stock, valued at approximately $535,000. Nuveen LLC owned 0.26% of Ocugen as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in OCGN. GSA Capital Partners LLP boosted 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 acquiring an additional 492,300 shares in the last quarter. Jane Street Group LLC boosted 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 acquiring an additional 357,891 shares in the last quarter. Deutsche Bank AG boosted 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 acquiring an additional 235,816 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ocugen by 10.4% during the 4th quarter. Northern Trust Corp now owns 2,407,137 shares of the company's stock valued at $1,938,000 after acquiring an additional 227,150 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Ocugen during the 4th quarter valued at about $138,000. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Ocugen Price Performance

Shares of OCGN stock traded up $0.01 during trading hours on Tuesday, reaching $1.04. 1,351,910 shares of the company were exchanged, compared to its average volume of 4,275,532. Ocugen, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $1.29. The stock's fifty day moving average is $1.03 and its two-hundred day moving average is $0.86. The company has a market cap of $302.53 million, a price-to-earnings ratio of -5.17 and a beta of 4.16. The company has a debt-to-equity ratio of 9.18, a current ratio of 1.83 and a quick ratio of 1.83.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Ocugen in a research report on Tuesday, June 24th. Chardan Capital restated a "buy" rating and issued a $7.00 price target on shares of Ocugen in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ocugen currently has a consensus rating of "Buy" and an average target price of $6.00.

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.