Ocugen, Inc. (NASDAQ:OCGN) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its position in Ocugen, Inc. (NASDAQ:OCGN) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 324,475 shares of the company’s stock after purchasing an additional 37,034 shares during the quarter. Rhumbline Advisers owned about 0.11% of Ocugen worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC lifted its stake in shares of Ocugen by 36.4% during the 3rd quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after purchasing an additional 23,877 shares during the period. SG Americas Securities LLC increased its stake in Ocugen by 72.7% in the fourth quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock valued at $123,000 after purchasing an additional 64,080 shares during the last quarter. Intech Investment Management LLC purchased a new position in Ocugen during the third quarter worth about $93,000. Franklin Resources Inc. acquired a new stake in Ocugen in the 3rd quarter worth about $142,000. Finally, GSA Capital Partners LLP acquired a new stake in Ocugen in the 3rd quarter worth about $203,000. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen Price Performance

OCGN stock opened at $0.61 on Monday. The company has a market cap of $177.76 million, a PE ratio of -3.39 and a beta of 3.88. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $0.73 and a two-hundred day moving average price of $0.90. Ocugen, Inc. has a 12-month low of $0.55 and a 12-month high of $2.11.

Ocugen (NASDAQ:OCGN) last issued its earnings results on Wednesday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $0.30 million. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, research analysts predict that Ocugen, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on OCGN shares. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Ocugen in a research note on Thursday. Chardan Capital upped their price target on shares of Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday.

Ocugen 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.