Ocugen, Inc. (NASDAQ:OCGN) CEO Sells $2,788,320.16 in Stock

Ocugen, Inc. (NASDAQ:OCGN) CEO Shankar Musunuri sold 195,809 shares of the firm’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $14.24, for a total transaction of $2,788,320.16. Following the completion of the transaction, the chief executive officer now directly owns 601,809 shares in the company, valued at $8,569,760.16. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of NASDAQ OCGN traded up $3.01 during midday trading on Monday, reaching $15.68. 278,239,891 shares of the stock were exchanged, compared to its average volume of 72,234,508. The company has a 50 day simple moving average of $8.12 and a 200 day simple moving average of $4.42. The stock has a market capitalization of $2.95 billion, a P/E ratio of -10.59 and a beta of 3.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.78 and a current ratio of 4.78. Ocugen, Inc. has a twelve month low of $0.17 and a twelve month high of $18.77.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Wednesday, March 17th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. On average, research analysts expect that Ocugen, Inc. will post -0.28 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arkadios Wealth Advisors increased its holdings in shares of Ocugen by 12.5% during the 1st quarter. Arkadios Wealth Advisors now owns 11,250 shares of the company’s stock worth $76,000 after buying an additional 1,250 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Ocugen by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 25,243 shares of the company’s stock worth $46,000 after buying an additional 5,712 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Ocugen in the 1st quarter valued at approximately $53,000. LMR Partners LLP acquired a new stake in Ocugen in the 4th quarter valued at approximately $26,000. Finally, Royal Fund Management LLC acquired a new position in Ocugen during the fourth quarter worth $30,000. Institutional investors and hedge funds own 8.53% of the company’s stock.

A number of brokerages recently weighed in on OCGN. HC Wainwright raised shares of Ocugen from a “neutral” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Thursday, February 4th. Chardan Capital lowered shares of Ocugen from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 9th. Cantor Fitzgerald raised their target price on shares of Ocugen from $1.00 to $4.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. Roth Capital raised their target price on shares of Ocugen from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. Finally, Zacks Investment Research lowered shares of Ocugen from a “buy” rating to a “hold” rating in a research note on Thursday, February 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $5.04.

Ocugen Company Profile

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.

See Also: Understanding each part of a balance sheet

Insider Buying and Selling by Quarter for Ocugen (NASDAQ:OCGN)

Receive News & Ratings for Ocugen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocugen and related companies with MarketBeat.com's FREE daily email newsletter.