Nuveen LLC Takes Position in Ocugen, Inc. $OCGN

Nuveen LLC purchased a new stake in shares of Ocugen, Inc. (NASDAQ:OCGN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 756,926 shares of the company’s stock, valued at approximately $535,000. Nuveen LLC owned about 0.26% of Ocugen at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp boosted its stake in Ocugen by 10.4% in the fourth quarter. Northern Trust Corp now owns 2,407,137 shares of the company’s stock valued at $1,938,000 after acquiring an additional 227,150 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Ocugen by 43.0% in the first quarter. GSA Capital Partners LLP now owns 1,638,033 shares of the company’s stock valued at $1,157,000 after acquiring an additional 492,300 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Ocugen by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 587,487 shares of the company’s stock valued at $415,000 after acquiring an additional 42,286 shares during the last quarter. Wellington Management Group LLP boosted its stake in Ocugen by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 507,495 shares of the company’s stock valued at $409,000 after acquiring an additional 48,393 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Ocugen by 258.8% in the fourth quarter. Jane Street Group LLC now owns 496,177 shares of the company’s stock valued at $399,000 after acquiring an additional 357,891 shares during the last quarter. 10.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OCGN has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Ocugen in a research note on Tuesday, June 24th. Chardan Capital reissued a “buy” rating and set a $7.00 price target on shares of Ocugen in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ocugen Trading Down 1.9%

Shares of NASDAQ:OCGN opened at $1.03 on Friday. Ocugen, Inc. has a 12 month low of $0.52 and a 12 month high of $1.29. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 9.18. The company’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $0.85. The firm has a market cap of $301.07 million, a price-to-earnings ratio of -5.15 and a beta of 4.15.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Friday, August 1st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Ocugen had a negative net margin of 1,197.71% and a negative return on equity of 255.25%. The business had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.35 million. As a group, research analysts forecast that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

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.