Key Points
- Ocugen CFO Treerita Essali Johnson-Greene bought 21,000 shares on June 15 at $1.23 apiece, spending about $25,830 and increasing her direct stake to 521,000 shares.
- The purchase came as Ocugen’s stock traded near $1.23, well below its 50-day and 200-day moving averages, while the company remains highly volatile with a beta of 2.19.
- Ocugen recently reported a smaller-than-expected loss of $0.06 per share, and analysts currently rate the stock a Moderate Buy with an average target price of $9.50.
Ocugen, Inc. (NASDAQ:OCGN - Get Free Report) CFO Treerita Essali Johnson-Greene bought 21,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $1.23 per share, with a total value of $25,830.00. Following the transaction, the chief financial officer directly owned 521,000 shares in the company, valued at approximately $640,830. This trade represents a 4.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ocugen Stock Performance
NASDAQ:OCGN opened at $1.23 on Thursday. The company has a market capitalization of $416.38 million, a PE ratio of -5.13 and a beta of 2.19. The company has a 50 day simple moving average of $1.50 and a two-hundred day simple moving average of $1.58. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.86 and a current ratio of 1.86. Ocugen, Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $2.73.
Ocugen (NASDAQ:OCGN - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The firm had revenue of $1.53 million for the quarter, compared to analyst estimates of $0.42 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 127,987.80%. Research analysts anticipate that Ocugen, Inc. will post -0.22 earnings per share for the current year.
Institutional Trading of Ocugen
Hedge funds have recently bought and sold shares of the business. CTC Alternative Strategies Ltd. acquired a new stake in Ocugen in the 1st quarter valued at $34,000. SmartHarvest Portfolios LLC acquired a new stake in Ocugen in the 4th quarter valued at $31,000. Schonfeld Strategic Advisors LLC acquired a new stake in Ocugen in the 4th quarter valued at $38,000. Cora Capital Advisors LLC grew its position in Ocugen by 27.5% in the 4th quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company's stock valued at $41,000 after purchasing an additional 6,500 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in 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 valued at $41,000 after purchasing an additional 30,198 shares during the period. Institutional investors and hedge funds own 10.27% of the company's stock.
Analyst Upgrades and Downgrades
OCGN has been the subject of several recent analyst reports. Weiss Ratings raised shares of Ocugen from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group reduced their price objective on shares of Ocugen from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Chardan Capital reaffirmed a "buy" rating and set a $7.00 price objective on shares of Ocugen in a research report on Wednesday, March 25th. Oppenheimer initiated coverage on shares of Ocugen in a research report on Wednesday, March 11th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Wall Street Zen raised shares of Ocugen from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ocugen presently has an average rating of "Moderate Buy" and an average target price of $9.50.
Read Our Latest Stock Analysis on Ocugen
About Ocugen
(
Get Free Report)
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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