Ocuphire Pharma (NASDAQ:OCUP) Stock Price Down 4.3%

Ocuphire Pharma, Inc. (NASDAQ:OCUP)’s stock price fell 4.3% during trading on Monday . The company traded as low as $1.74 and last traded at $1.76. 196,987 shares changed hands during trading, a decline of 12% from the average session volume of 222,608 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

Separately, Alliance Global Partners dropped their target price on Ocuphire Pharma from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th.

Ocuphire Pharma Price Performance

The stock has a market capitalization of $43.17 million, a price-to-earnings ratio of -3.63 and a beta of 0.33. The business has a fifty day moving average of $2.22 and a 200 day moving average of $2.68.

Ocuphire Pharma (NASDAQ:OCUP) last released its quarterly earnings data on Friday, March 8th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14). Ocuphire Pharma had a negative net margin of 52.42% and a negative return on equity of 22.30%. The business had revenue of $1.69 million during the quarter, compared to analyst estimates of $3.47 million. On average, equities research analysts expect that Ocuphire Pharma, Inc. will post -0.53 EPS for the current year.

Insider Activity at Ocuphire Pharma

In other Ocuphire Pharma news, CEO George Magrath acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $1.96 per share, for a total transaction of $49,000.00. Following the completion of the acquisition, the chief executive officer now owns 425,000 shares of the company’s stock, valued at approximately $833,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have acquired 37,000 shares of company stock worth $74,100. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC purchased a new stake in shares of Ocuphire Pharma during the first quarter worth $32,000. Captrust Financial Advisors increased its position in shares of Ocuphire Pharma by 1,200.1% during the third quarter. Captrust Financial Advisors now owns 19,501 shares of the company’s stock worth $39,000 after acquiring an additional 18,001 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Ocuphire Pharma during the third quarter worth $46,000. Dimensional Fund Advisors LP purchased a new stake in shares of Ocuphire Pharma during the third quarter worth $51,000. Finally, Bank of New York Mellon Corp purchased a new position in Ocuphire Pharma in the first quarter valued at $61,000. 14.97% of the stock is currently owned by institutional investors and hedge funds.

About Ocuphire Pharma

Ocuphire Pharma, Inc, a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. The company offers Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as is in Phase III clinical trials for presbyopia and dim light or night vision disturbances.