Ocugen (NASDAQ:OCGN) Shares Down 2.8% - Should You Sell?

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report)'s stock price dropped 2.8% on Wednesday . The stock traded as low as $1.02 and last traded at $1.04. Approximately 3,590,831 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 4,573,392 shares. The stock had previously closed at $1.07.

Wall Street Analysts Forecast Growth

OCGN has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Ocugen in a research note on Tuesday, June 24th. Chardan Capital reiterated a "buy" rating and issued a $7.00 target price on shares of Ocugen in a research note on Tuesday, June 24th.

Ocugen Stock Performance

The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.74. The company's 50-day moving average is $0.96 and its two-hundred day moving average is $0.79. The company has a market capitalization of $303.71 million, a P/E ratio of -5.47 and a beta of 4.18.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $1.48 million during the quarter. Ocugen had a negative return on equity of 223.00% and a negative net margin of 1,271.12%. Equities analysts anticipate that Ocugen, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ocugen

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in Ocugen in the first quarter worth about $28,000. BNP Paribas Financial Markets purchased a new position in Ocugen in the fourth quarter worth about $30,000. Ameriprise Financial Inc. purchased a new position in shares of Ocugen during the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC lifted its position in shares of Ocugen by 309.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 39,848 shares of the company's stock valued at $32,000 after buying an additional 30,120 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Ocugen during the 4th quarter valued at about $32,000. 10.27% of the stock is currently owned by institutional investors.

About Ocugen

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.

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