Ocugen (NASDAQ:OCGN) Shares Gap Up to $1.83

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $1.83, but opened at $2.01. Ocugen shares last traded at $1.97, with a volume of 13,635,983 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Ocugen in a research note on Wednesday, April 3rd.

Ocugen Stock Up 2.7 %

The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 0.03. The firm has a market cap of $482.22 million, a P/E ratio of -5.97 and a beta of 3.51. The company's 50 day simple moving average is $1.02 and its 200-day simple moving average is $0.64.

Hedge Funds Weigh In On Ocugen

Institutional investors and hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd purchased a new position in shares of Ocugen in the first quarter worth approximately $25,000. Belpointe Asset Management LLC raised its stake in Ocugen by 11,550.5% during the 1st quarter. Belpointe Asset Management LLC now owns 34,835 shares of the company's stock worth $30,000 after acquiring an additional 34,536 shares during the period. Two Sigma Securities LLC bought a new stake in Ocugen during the 2nd quarter worth approximately $32,000. Schonfeld Strategic Advisors LLC bought a new stake in Ocugen during the 2nd quarter worth approximately $32,000. Finally, Lazard Asset Management LLC raised its stake in Ocugen by 123.9% during the 2nd quarter. Lazard Asset Management LLC now owns 61,432 shares of the company's stock worth $32,000 after acquiring an additional 33,991 shares during the period. Hedge funds and other institutional investors own 10.27% of the company's stock.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.