Insider Selling: Ocugen, Inc. (NASDAQ:OCGN) CEO Sells 7,758 Shares of Stock

Last updated on Wednesday, June 9, 2021 | 2021 MarketBeat

Ocugen, Inc. (NASDAQ:OCGN) CEO Shankar Musunuri sold 7,758 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $10.94, for a total value of $84,872.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shankar Musunuri also recently made the following trade(s):

  • On Monday, May 3rd, Shankar Musunuri sold 195,809 shares of Ocugen stock. The stock was sold at an average price of $14.24, for a total value of $2,788,320.16.

Shares of OCGN stock traded down $0.83 during trading hours on Wednesday, reaching $9.31. The company had a trading volume of 29,611,627 shares, compared to its average volume of 68,271,852. Ocugen, Inc. has a 12 month low of $0.19 and a 12 month high of $18.77. The company has a current ratio of 12.00, a quick ratio of 12.00 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $8.76. The company has a market capitalization of $1.85 billion, a P/E ratio of -30.03 and a beta of 4.47.

Ocugen (NASDAQ:OCGN) last posted its earnings results on Friday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks' consensus estimate of $0.50 by ($0.54). As a group, equities research analysts predict that Ocugen, Inc. will post 1.05 earnings per share for the current year.

Several brokerages have issued reports on OCGN. Roth Capital increased their price target on Ocugen from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday, March 4th. Zacks Investment Research lowered Ocugen from a "hold" rating to a "sell" rating in a report on Wednesday, May 26th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $11.00 price target (down previously from $15.00) on shares of Ocugen in a report on Thursday, May 13th. Finally, Chardan Capital dropped their target price on Ocugen from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, May 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Ocugen currently has a consensus rating of "Hold" and a consensus price target of $7.90.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Ocugen by 53.8% during the first quarter. BlackRock Inc. now owns 3,422,471 shares of the company's stock worth $23,238,000 after acquiring an additional 1,196,797 shares during the period. Geode Capital Management LLC lifted its holdings in Ocugen by 34.4% during the first quarter. Geode Capital Management LLC now owns 1,635,172 shares of the company's stock worth $11,102,000 after acquiring an additional 418,757 shares during the period. HRT Financial LP lifted its holdings in Ocugen by 4,917.2% during the first quarter. HRT Financial LP now owns 570,857 shares of the company's stock worth $3,876,000 after acquiring an additional 559,479 shares during the period. Citigroup Inc. bought a new stake in Ocugen during the first quarter worth $2,745,000. Finally, Northern Trust Corp lifted its holdings in Ocugen by 17.3% during the first quarter. Northern Trust Corp now owns 359,202 shares of the company's stock worth $2,439,000 after acquiring an additional 53,084 shares during the period. Institutional investors and hedge funds own 12.47% of the company's stock.

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.

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

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