Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD. Ocugen, Inc. has a strategic partnership with CanSino Biologics Inc. for gene therapy co-development and manufacturing; and Bharat Biotech for the commercialization of COVAXIN in the United States market. The company is headquartered in Malvern, Pennsylvania.
Ocugen Stock Down 3.8 %
Shares of NASDAQ:OCGN opened at $2.77 on Wednesday. Ocugen has a 1 year low of $1.67 and a 1 year high of $17.65. The firm's 50-day moving average is $2.52 and its 200-day moving average is $2.77. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $599.90 million, a PE ratio of -9.23 and a beta of 4.24.
Analyst Ratings Changes
Several equities analysts recently commented on OCGN shares. Chardan Capital cut their target price on Ocugen from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Monday, May 9th. Roth Capital reaffirmed a "buy" rating and set a $8.00 price objective on shares of Ocugen in a report on Wednesday, June 15th. HC Wainwright reduced their target price on Ocugen from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday. Finally, Cantor Fitzgerald started coverage on Ocugen in a report on Thursday, June 2nd. They set an "overweight" rating and a $4.50 price target for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Ocugen currently has an average rating of "Moderate Buy" and a consensus target price of $7.40.
Insider Transactions at Ocugen
In related news, Director Kirsten Castillo sold 42,000 shares of the company's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $2.91, for a total value of $122,220.00. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at $145,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ocugen news, CEO Shankar Musunuri sold 150,000 shares of the business's stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $2.72, for a total transaction of $408,000.00. Following the sale, the chief executive officer now directly owns 752,540 shares of the company's stock, valued at approximately $2,046,908.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kirsten Castillo sold 42,000 shares of the firm's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $2.91, for a total value of $122,220.00. Following the completion of the transaction, the director now owns 50,000 shares of the company's stock, valued at approximately $145,500. The disclosure for this sale can be found here. Insiders have sold 199,500 shares of company stock worth $549,495 in the last three months. Insiders own 2.81% of the company's stock.