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.
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.
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