Ocugen, Inc. (NASDAQ:OCGN – Get 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.
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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