2,087,632 Shares in Ocugen, Inc. (NASDAQ:OCGN) Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in Ocugen, Inc. (NASDAQ:OCGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,087,632 shares of the company's stock, valued at approximately $1,681,000. Renaissance Technologies LLC owned approximately 0.72% of Ocugen at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Ocugen during the 4th quarter valued at approximately $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Ocugen during the fourth quarter worth $40,000. Wells Fargo & Company MN increased its holdings in shares of Ocugen by 63.3% during the fourth quarter. Wells Fargo & Company MN now owns 141,773 shares of the company's stock worth $114,000 after buying an additional 54,935 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Ocugen by 72.7% in the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company's stock valued at $123,000 after acquiring an additional 64,080 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Ocugen during the 4th quarter valued at $132,000. Institutional investors own 10.27% of the company's stock.

Ocugen Stock Up 2.7 %

Shares of OCGN traded up $0.02 during trading hours on Wednesday, hitting $0.75. The stock had a trading volume of 2,673,027 shares, compared to its average volume of 4,671,336. Ocugen, Inc. has a 1-year low of $0.52 and a 1-year high of $2.06. The firm has a market capitalization of $218.19 million, a P/E ratio of -4.15 and a beta of 3.78. The firm has a 50 day simple moving average of $0.65 and a 200-day simple moving average of $0.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58.

Ocugen (NASDAQ:OCGN - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. The firm had revenue of $0.76 million during the quarter, compared to analysts' expectations of $0.30 million. During the same quarter last year, the firm posted ($0.03) earnings per share. Sell-side analysts predict that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Chardan Capital increased their target price on Ocugen from $6.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of Ocugen in a research report on Thursday, March 6th.

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.