Ocugen (NASDAQ:OCGN) Shares Gap Down to $9.18

Ocugen, Inc. (NASDAQ:OCGN)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $9.18, but opened at $7.66. Ocugen shares last traded at $7.78, with a volume of 35,459 shares.

A number of equities analysts recently issued reports on OCGN shares. Cantor Fitzgerald boosted their price objective on Ocugen from $1.00 to $4.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Chardan Capital lowered Ocugen from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 9th. Zacks Investment Research lowered Ocugen from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. HC Wainwright raised Ocugen from a “neutral” rating to a “buy” rating and set a $4.50 price target for the company in a research report on Thursday, February 4th. Finally, Roth Capital boosted their price target on Ocugen from $1.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ocugen has an average rating of “Buy” and a consensus price target of $4.64.

The company has a 50-day moving average of $4.92 and a 200-day moving average of $1.59. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -4.14 and a beta of 3.56. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.13.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Ocugen by 676.9% during the 3rd quarter. BlackRock Inc. now owns 5,018,690 shares of the company’s stock valued at $1,556,000 after buying an additional 4,372,705 shares in the last quarter. WINTON GROUP Ltd increased its position in Ocugen by 103.8% during the 3rd quarter. WINTON GROUP Ltd now owns 372,087 shares of the company’s stock valued at $115,000 after buying an additional 189,480 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Ocugen during the 4th quarter valued at about $622,000. Northern Trust Corp increased its position in Ocugen by 124.0% during the 4th quarter. Northern Trust Corp now owns 306,118 shares of the company’s stock valued at $560,000 after buying an additional 169,454 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Ocugen in the fourth quarter valued at about $551,000. 8.53% of the stock is currently owned by institutional investors.

About Ocugen (NASDAQ:OCGN)

Ocugen, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of transformative therapies to cure blindness diseases. The company's pipeline product includes OCU200, a novel fusion protein that is in preclinical development stage for the treatment of wet AMD, diabetic retinopathy, and diabetic macular edema; OCU400 to treat retinitis pigmentosa, a group of rare genetic disorders; and OCU410, which is in preclinical development stage for the treatment of dry AMD.

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