Ocugen (NASDAQ:OCGN) Shares Gap Down to $1.96

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $1.96, but opened at $1.91. Ocugen shares last traded at $2.00, with a volume of 3,621,138 shares.

Analyst Upgrades and Downgrades

OCGN has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Ocugen in a research report on Wednesday. Chardan Capital reissued a "buy" rating and issued a $5.00 target price on shares of Ocugen in a report on Wednesday.

Ocugen Price Performance

The stock has a market capitalization of $509.51 million, a PE ratio of -7.35 and a beta of 3.49. The firm's fifty day moving average price is $1.45 and its two-hundred day moving average price is $0.86. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.07.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its earnings results on Tuesday, May 14th. 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 $1.01 million for the quarter. During the same period in the previous year, the company posted ($0.07) EPS. On average, equities analysts predict that Ocugen, Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Ocugen

A number of large investors have recently made changes to their positions in the company. Truefg LLC purchased a new stake in Ocugen during the first quarter valued at approximately $34,000. David J Yvars Group bought a new position in Ocugen in the 1st quarter worth $35,000. Headlands Technologies LLC bought a new stake in Ocugen during the first quarter valued at about $66,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Ocugen in the first quarter worth about $132,000. 10.27% of the stock is currently owned by institutional investors.

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.