Franklin Resources Inc. Purchases New Stake in Ocugen, Inc. (NASDAQ:OCGN)

Franklin Resources Inc. acquired a new position in shares of Ocugen, Inc. (NASDAQ:OCGN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 149,217 shares of the company’s stock, valued at approximately $142,000. Franklin Resources Inc. owned about 0.05% of Ocugen at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OCGN. Xponance Inc. purchased a new stake in Ocugen in the 2nd quarter valued at about $25,000. MetLife Investment Management LLC lifted its holdings in Ocugen by 36.4% during the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after acquiring an additional 23,877 shares during the period. Victory Capital Management Inc. bought a new stake in Ocugen during the second quarter worth $51,000. Daiwa Securities Group Inc. purchased a new position in Ocugen in the second quarter worth $67,000. Finally, E Fund Management Co. Ltd. bought a new position in Ocugen in the 2nd quarter valued at $75,000. 10.27% of the stock is owned by institutional investors.

Ocugen Price Performance

Shares of Ocugen stock opened at $0.90 on Friday. The firm has a market cap of $262.19 million, a PE ratio of -5.00 and a beta of 3.82. The company’s fifty day simple moving average is $0.90 and its two-hundred day simple moving average is $1.15. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. Ocugen, Inc. has a 12-month low of $0.49 and a 12-month high of $2.11.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OCGN. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Ocugen in a report on Monday, November 11th. Chardan Capital restated a “buy” rating and set a $6.00 price target on shares of Ocugen in a research note on Monday, November 18th. Finally, Maxim Group began coverage on Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price objective on the stock.

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.