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

Key Points

• Shares gapped down: Ocugen opened at $1.86 after a $1.99 close and last traded around $1.7650 (down about 7.8%) on ~4.79 million shares, giving a market cap near $602 million.
• Analyst mix but bullish average: Four analysts rate the stock a Buy and one a Sell, yielding a consensus of "Moderate Buy" with an average price target of $9.75 (notable raises to $10 and $12 from HC Wainwright and Canaccord).
• Weak fundamentals: Ocugen reported negative EPS (‑$0.06 last quarter, forecasted ~‑0.2 this year), a revenue miss, very negative margins/ROE, and a high debt-to-equity ratio of 8.04, with institutional ownership around 10%.

Ocugen, Inc. (NASDAQ:OCGN - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.99, but opened at $1.86. Ocugen shares last traded at $1.7650, with a volume of 4,789,387 shares.

Wall Street Analysts Forecast Growth

OCGN has been the topic of several research analyst reports. HC Wainwright increased their price objective on Ocugen from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, March 25th. Weiss Ratings reissued a "sell (e+)" rating on shares of Ocugen in a research note on Thursday, January 22nd. Chardan Capital reissued a "buy" rating and issued a $7.00 price objective on shares of Ocugen in a research note on Wednesday, March 25th. Canaccord Genuity Group started coverage on Ocugen in a research note on Tuesday, March 17th. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, Wall Street Zen cut Ocugen from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.75.

Ocugen Stock Down 7.8%

The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $601.69 million, a PE ratio of -7.98 and a beta of 2.80. The business has a 50 day moving average of $1.83 and a two-hundred day moving average of $1.59.

Ocugen (NASDAQ:OCGN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.06). The firm had revenue of ($0.19) million during the quarter, compared to analysts' expectations of $0.86 million. Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%. Analysts predict that Ocugen, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Ocugen

Institutional investors have recently made changes to their positions in the business. SmartHarvest Portfolios LLC acquired a new stake in shares of Ocugen in the 4th quarter worth $31,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ocugen in the 4th quarter worth $38,000. Verdence Capital Advisors LLC acquired a new stake in shares of Ocugen in the 3rd quarter worth $47,000. Cora Capital Advisors LLC boosted its position in shares of Ocugen by 27.5% in the 4th quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company's stock worth $41,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Ocugen by 28,222.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 30,305 shares of the company's stock worth $41,000 after purchasing an additional 30,198 shares in the last quarter. Institutional investors and hedge funds own 10.27% of the company's stock.

About Ocugen

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.

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