Shankar Musunuri Sells 125,000 Shares of Ocugen, Inc. (NASDAQ:OCGN) Stock

Ocugen, Inc. (NASDAQ:OCGNGet Rating) CEO Shankar Musunuri sold 125,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $1.92, for a total value of $240,000.00. Following the completion of the transaction, the chief executive officer now owns 752,540 shares of the company’s stock, valued at $1,444,876.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shankar Musunuri also recently made the following trade(s):

  • On Wednesday, March 16th, Shankar Musunuri sold 81,823 shares of Ocugen stock. The stock was sold at an average price of $2.65, for a total value of $216,830.95.

OCGN traded up $0.19 during trading on Friday, hitting $2.10. The company’s stock had a trading volume of 8,859,745 shares, compared to its average volume of 10,947,875. The company has a current ratio of 17.96, a quick ratio of 14.66 and a debt-to-equity ratio of 0.01. Ocugen, Inc. has a twelve month low of $1.67 and a twelve month high of $17.65. The business’s fifty day simple moving average is $2.81 and its 200 day simple moving average is $4.61. The firm has a market capitalization of $452.89 million, a price-to-earnings ratio of -6.18 and a beta of 4.59.

Ocugen (NASDAQ:OCGNGet Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). As a group, equities research analysts forecast that Ocugen, Inc. will post 0.01 earnings per share for the current fiscal year.

Several research analysts recently weighed in on OCGN shares. HC Wainwright reduced their price target on Ocugen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, February 28th. Zacks Investment Research cut Ocugen from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Chardan Capital reduced their price target on Ocugen from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.67.

A number of institutional investors and hedge funds have recently modified their holdings of OCGN. Royal Bank of Canada boosted its stake in shares of Ocugen by 1,472.4% in the second quarter. Royal Bank of Canada now owns 13,821 shares of the company’s stock worth $111,000 after acquiring an additional 12,942 shares during the last quarter. Morgan Stanley boosted its stake in shares of Ocugen by 2,375.6% in the second quarter. Morgan Stanley now owns 589,070 shares of the company’s stock worth $4,730,000 after acquiring an additional 565,275 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ocugen in the third quarter worth approximately $505,000. Victory Capital Management Inc. boosted its stake in shares of Ocugen by 54.9% in the third quarter. Victory Capital Management Inc. now owns 85,892 shares of the company’s stock worth $617,000 after acquiring an additional 30,426 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ocugen in the third quarter worth approximately $119,000. 39.70% of the stock is currently owned by institutional investors.

About Ocugen (Get Rating)

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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