Ocugen Target of Unusually High Options Trading (NASDAQ:OCGN)

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) was the target of unusually large options trading on Thursday. Stock traders bought 4,262 call options on the stock. This is an increase of 201% compared to the typical daily volume of 1,415 call options.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of Ocugen in a report on Thursday, February 22nd.

Ocugen Stock Performance

Shares of NASDAQ:OCGN traded up $0.10 during midday trading on Thursday, reaching $1.34. 29,628,344 shares of the company's stock traded hands, compared to its average volume of 6,316,846. The company has a market cap of $343.71 million, a price-to-earnings ratio of -4.06 and a beta of 3.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.08 and a current ratio of 5.08. Ocugen has a one year low of $0.35 and a one year high of $1.60. The stock has a 50 day moving average of $0.78 and a 200 day moving average of $0.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OCGN. WINTON GROUP Ltd bought a new position in Ocugen in the first quarter valued at about $25,000. Belpointe Asset Management LLC lifted its holdings in Ocugen by 11,550.5% in the first quarter. Belpointe Asset Management LLC now owns 34,835 shares of the company's stock valued at $30,000 after acquiring an additional 34,536 shares during the period. Two Sigma Securities LLC bought a new position in Ocugen in the second quarter valued at about $32,000. Schonfeld Strategic Advisors LLC bought a new position in Ocugen in the second quarter valued at about $32,000. Finally, Lazard Asset Management LLC lifted its holdings in Ocugen by 123.9% in the second quarter. Lazard Asset Management LLC now owns 61,432 shares of the company's stock valued at $32,000 after acquiring an additional 33,991 shares during the period. 21.50% of the stock is owned by institutional investors.

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 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.