Ocugen, Inc. (NASDAQ:OCGN – Get Free Report) CEO Shankar Musunuri sold 468,727 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $1.12, for a total value of $524,974.24. Following the completion of the sale, the chief executive officer directly owned 4,487,197 shares of the company’s stock, valued at approximately $5,025,660.64. This trade represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Shankar Musunuri also recently made the following trade(s):
- On Wednesday, September 9th, Shankar Musunuri sold 57,264 shares of Ocugen stock. The shares were sold at an average price of $1.12, for a total value of $64,135.68.
Ocugen Stock Down 0.5%
NASDAQ:OCGN traded down $0.01 during trading hours on Friday, hitting $1.02. 6,410,786 shares of the company’s stock traded hands, compared to its average volume of 5,912,163. The stock’s fifty day moving average price is $1.33 and its two-hundred day moving average price is $1.53. The firm has a market cap of $345.89 million, a P/E ratio of -3.92 and a beta of 2.20. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.80 and a current ratio of 0.80. Ocugen, Inc. has a twelve month low of $1.01 and a twelve month high of $2.73.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Ocugen from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Ocugen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group cut their price objective on Ocugen from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.
Check Out Our Latest Stock Analysis on Ocugen
Hedge Funds Weigh In On Ocugen
Institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its stake in Ocugen by 121.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,830,397 shares of the company’s stock valued at $4,331,000 after buying an additional 1,553,672 shares during the last quarter. BlackRock Inc. bought a new position in shares of Ocugen in the second quarter worth about $41,314,000. Bank of America Corp DE lifted its position in shares of Ocugen by 1,090.0% during the 1st quarter. Bank of America Corp DE now owns 1,174,180 shares of the company’s stock worth $2,125,000 after purchasing an additional 1,075,508 shares during the last quarter. UBS Group AG boosted its stake in Ocugen by 373.2% during the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after purchasing an additional 3,824,474 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Ocugen by 527.1% during the 2nd quarter. Headlands Technologies LLC now owns 511,575 shares of the company’s stock valued at $783,000 after purchasing an additional 429,997 shares during the period. 10.27% of the stock is currently owned by institutional investors.
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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