Ocugen (NASDAQ:OCGN) Shares Down 2.8% - Time to Sell?

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) was down 2.8% during trading on Wednesday . The company traded as low as $1.02 and last traded at $1.04. Approximately 3,590,831 shares changed hands 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.

Analyst Upgrades and Downgrades

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

Ocugen Price Performance

The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.74. The firm has a market cap of $297.87 million, a price-to-earnings ratio of -5.37 and a beta of 4.18. The company's 50-day moving average is $0.97 and its 200-day moving average is $0.79.

Ocugen (NASDAQ:OCGN - Get Free Report) last issued 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. Ocugen had a negative return on equity of 223.00% and a negative net margin of 1,271.12%. The company had revenue of $1.48 million during the quarter. Equities research analysts predict that Ocugen, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Ocugen

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in Ocugen by 8.7% in the 1st quarter. Invesco Ltd. now owns 188,678 shares of the company's stock worth $133,000 after acquiring an additional 15,125 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Ocugen by 108.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 38,142 shares of the company's stock worth $37,000 after acquiring an additional 19,876 shares during the last quarter. XTX Topco Ltd increased its holdings in Ocugen by 8.5% in the 4th quarter. XTX Topco Ltd now owns 254,995 shares of the company's stock worth $205,000 after acquiring an additional 19,894 shares during the last quarter. Rhumbline Advisers boosted its stake in Ocugen by 6.4% in the 1st quarter. Rhumbline Advisers now owns 345,130 shares of the company's stock worth $244,000 after purchasing an additional 20,655 shares during the period. Finally, Two Sigma Securities LLC boosted its stake in Ocugen by 92.9% in the 4th quarter. Two Sigma Securities LLC now owns 51,909 shares of the company's stock worth $42,000 after purchasing an additional 25,004 shares during the period. 10.27% of the stock is currently owned by institutional investors.

Ocugen Company Profile

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.