Ocugen Sees Unusually Large Options Volume (NASDAQ:OCGN)

Ocugen, Inc. (NASDAQ:OCGN) was the target of unusually large options trading on Wednesday. Stock investors purchased 4,393 call options on the company. This represents an increase of approximately 163% compared to the average daily volume of 1,671 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OCGN. Northwestern Mutual Wealth Management Co. bought a new position in shares of Ocugen in the 1st quarter valued at about $28,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ocugen by 48.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company’s stock valued at $29,000 after acquiring an additional 9,791 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Ocugen in the fourth quarter worth about $30,000. BNP Paribas Financial Markets bought a new stake in Ocugen in the fourth quarter worth about $30,000. Finally, NewEdge Advisors LLC boosted its position in shares of Ocugen by 198.0% during the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after buying an additional 24,460 shares during the period. Institutional investors own 10.27% of the company’s stock.

Wall Street Analysts Forecast Growth

OCGN has been the subject of several research reports. Wall Street Zen raised shares of Ocugen from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Tuesday, June 24th. Finally, Chardan Capital reissued a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ocugen presently has an average rating of “Buy” and a consensus price target of $6.00.

Ocugen Stock Up 3.1%

Shares of NASDAQ:OCGN opened at $1.68 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 9.18. Ocugen has a 12 month low of $0.52 and a 12 month high of $1.78. The company has a 50-day moving average price of $1.14 and a 200 day moving average price of $0.95. The company has a market cap of $491.06 million, a price-to-earnings ratio of -8.40 and a beta of 4.19.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings results on Friday, August 1st. The company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.35 million. As a group, equities research analysts predict that Ocugen will post -0.2 earnings per share for the current 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.