2,087,632 Shares in Ocugen, Inc. (NASDAQ:OCGN) Bought 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 filing with the Securities and Exchange Commission (SEC). The firm bought 2,087,632 shares of the company's stock, valued at approximately $1,681,000. Renaissance Technologies LLC owned about 0.72% of Ocugen at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OCGN. Rhumbline Advisers raised its holdings in Ocugen by 12.9% in the 4th quarter. Rhumbline Advisers now owns 324,475 shares of the company's stock valued at $261,000 after buying an additional 37,034 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Ocugen during the fourth quarter worth $32,000. Wellington Management Group LLP grew its stake in shares of Ocugen by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 507,495 shares of the company's stock worth $409,000 after purchasing an additional 48,393 shares during the last quarter. Invesco Ltd. increased its holdings in Ocugen by 39.0% in the fourth quarter. Invesco Ltd. now owns 173,553 shares of the company's stock valued at $140,000 after purchasing an additional 48,679 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Ocugen in the fourth quarter valued at $40,000. 10.27% of the stock is owned by institutional investors and hedge funds.

Ocugen Trading Up 3.8 %

NASDAQ OCGN traded up $0.03 during mid-day trading on Friday, reaching $0.77. 2,061,679 shares of the stock were exchanged, compared to its average volume of 4,651,800. The stock has a market cap of $223.68 million, a P/E ratio of -4.25 and a beta of 3.78. 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, Inc. has a one year low of $0.52 and a one year high of $2.06. The stock has a 50 day simple moving average of $0.65 and a 200-day simple moving average of $0.77.

Ocugen (NASDAQ:OCGN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate 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 analyst estimates of $0.30 million. During the same period last year, the company posted ($0.03) EPS. On average, analysts anticipate that Ocugen, Inc. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OCGN shares. Chardan Capital upped their price target 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 reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Ocugen in a research note 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.