Insider Selling: Ocugen, Inc. (NASDAQ:OCGN) Director Sells 33,500 Shares of Stock

Last updated on Thursday, May 27, 2021 | 2021 MarketBeat

Ocugen, Inc. (NASDAQ:OCGN) Director Prabhavathi Fernandes sold 33,500 shares of the firm's stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $8.20, for a total transaction of $274,700.00. Following the sale, the director now owns 19,500 shares in the company, valued at approximately $159,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NASDAQ:OCGN traded up $1.05 during midday trading on Thursday, hitting $8.71. The company's stock had a trading volume of 56,980,152 shares, compared to its average volume of 70,550,844. The business's 50 day simple moving average is $8.84 and its 200 day simple moving average is $5.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 12.00 and a current ratio of 12.00. The company has a market cap of $1.73 billion, a P/E ratio of -27.13 and a beta of 4.43. Ocugen, Inc. has a 12-month low of $0.17 and a 12-month high of $18.77.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Friday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.50 by ($0.54). On average, sell-side analysts predict that Ocugen, Inc. will post 1.05 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new position in shares of Ocugen in the first quarter worth about $2,097,000. Tudor Investment Corp Et Al purchased a new position in Ocugen during the first quarter worth about $557,000. Cubist Systematic Strategies LLC purchased a new position in Ocugen during the first quarter worth about $1,602,000. Gotham Asset Management LLC purchased a new position in Ocugen during the first quarter worth about $81,000. Finally, Hilltop Holdings Inc. purchased a new position in Ocugen during the first quarter worth about $98,000. 12.47% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have issued reports on OCGN. HC Wainwright raised shares of Ocugen from a "neutral" rating to a "buy" rating and set a $4.50 price objective on the stock in a report on Thursday, February 4th. Zacks Investment Research downgraded shares of Ocugen from a "hold" rating to a "sell" rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $11.00 price objective (down from $15.00) on shares of Ocugen in a report on Thursday, May 13th. Chardan Capital decreased their price objective on shares of Ocugen from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, May 10th. Finally, Roth Capital increased their price objective on shares of Ocugen from $9.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, March 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Ocugen currently has an average rating of "Hold" and a consensus target price of $7.90.

Ocugen Company Profile

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, gene therapy candidate 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.

See Also: How To Calculate Debt-to-Equity Ratio

Insider Buying and Selling by Quarter for Ocugen (NASDAQ:OCGN)

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