Ocugen (NASDAQ:OCGN) Receives “Buy” Rating from Chardan Capital

Ocugen (NASDAQ:OCGN)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $6.00 price target on the stock.

Several other brokerages have also issued reports on OCGN. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Monday, January 13th. Maxim Group initiated coverage on Ocugen in a report on Tuesday, October 15th. They set a “buy” rating and a $4.00 price target on the stock.

Ocugen Stock Down 2.9 %

Shares of NASDAQ OCGN traded down $0.02 during mid-day trading on Thursday, hitting $0.73. The company had a trading volume of 268,278 shares, compared to its average volume of 4,946,746. The company has a market capitalization of $213.83 million, a PE ratio of -4.08 and a beta of 3.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. Ocugen has a 1-year low of $0.50 and a 1-year high of $2.11. The business’s 50-day simple moving average is $0.84 and its 200 day simple moving average is $1.09.

Institutional Trading of Ocugen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. acquired a new position in Ocugen in the second quarter valued at approximately $25,000. MetLife Investment Management LLC boosted its position in shares of Ocugen by 36.4% during the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after buying an additional 23,877 shares during the period. SG Americas Securities LLC boosted its position in shares of Ocugen by 72.7% during the fourth quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock worth $123,000 after buying an additional 64,080 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of Ocugen during the third quarter worth approximately $90,000. Finally, Intech Investment Management LLC acquired a new position in shares of Ocugen during the third quarter worth approximately $93,000. 10.27% of the stock is owned by hedge funds and other institutional investors.

Ocugen Company Profile

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. 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, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.