Ocugen Target of Unusually High Options Trading (NASDAQ:OCGN)

Ocugen, Inc. (NASDAQ:OCGN) saw some unusual options trading activity on Friday. Stock investors bought 6,390 call options on the stock. This represents an increase of approximately 89% compared to the typical daily volume of 3,386 call options.

Institutional Trading of Ocugen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its position in Ocugen by 48.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,871 shares of the company’s stock valued at $29,000 after purchasing an additional 9,791 shares during the period. Lanham O Dell & Company Inc. lifted its holdings in Ocugen by 7.7% in the third quarter. Lanham O Dell & Company Inc. now owns 140,000 shares of the company’s stock valued at $228,000 after buying an additional 10,000 shares during the period. Procyon Advisors LLC boosted its stake in Ocugen by 5.5% in the third quarter. Procyon Advisors LLC now owns 211,100 shares of the company’s stock valued at $344,000 after acquiring an additional 11,000 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Ocugen by 56.7% in the second quarter. BNP Paribas Financial Markets now owns 36,822 shares of the company’s stock valued at $36,000 after acquiring an additional 13,326 shares during the last quarter. Finally, Rinkey Investments grew its holdings in Ocugen by 1.2% during the 2nd quarter. Rinkey Investments now owns 1,179,006 shares of the company’s stock worth $1,144,000 after acquiring an additional 14,500 shares during the period. 10.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OCGN has been the subject of several analyst reports. Chardan Capital reissued a “buy” rating and set a $7.00 price target on shares of Ocugen in a report on Friday, September 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ocugen in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Ocugen Price Performance

OCGN opened at $1.41 on Friday. Ocugen has a one year low of $0.52 and a one year high of $1.90. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.85 and a quick ratio of 1.85. The company’s 50 day simple moving average is $1.35 and its 200-day simple moving average is $1.24. The stock has a market capitalization of $440.37 million, a P/E ratio of -6.41 and a beta of 4.54.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $3.50 million for the quarter, compared to analyst estimates of $0.44 million. Ocugen had a negative return on equity of 491.22% and a negative net margin of 1,192.18%. Sell-side analysts anticipate that Ocugen will post -0.2 earnings per share for the current fiscal year.

Ocugen Company Profile

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.