Ocugen, Inc. (NASDAQ:OCGN) Stock Position Raised by ProShare Advisors LLC

ProShare Advisors LLC raised its position in shares of Ocugen, Inc. (NASDAQ:OCGN) by 66.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,613 shares of the company’s stock after purchasing an additional 32,262 shares during the period. ProShare Advisors LLC’s holdings in Ocugen were worth $65,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Ocugen by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock worth $5,305,000 after purchasing an additional 309,853 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ocugen by 10.4% during the 4th quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock worth $1,938,000 after purchasing an additional 227,150 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ocugen during the 4th quarter worth about $1,681,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ocugen by 12.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company’s stock worth $692,000 after purchasing an additional 93,288 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Ocugen by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 507,495 shares of the company’s stock worth $409,000 after purchasing an additional 48,393 shares in the last quarter. 10.27% of the stock is owned by hedge funds and other institutional investors.

Ocugen Stock Up 1.7%

Shares of OCGN stock opened at $0.85 on Wednesday. The stock’s 50 day simple moving average is $0.74 and its 200 day simple moving average is $0.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58. Ocugen, Inc. has a twelve month low of $0.52 and a twelve month high of $1.98. The company has a market capitalization of $248.69 million, a price-to-earnings ratio of -4.73 and a beta of 4.21.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. The business had revenue of $1.48 million for the quarter. As a group, research analysts predict that Ocugen, Inc. will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OCGN. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Ocugen in a research note on Monday, May 12th. HC Wainwright cut their price objective on Ocugen from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, May 12th.

About Ocugen

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.