Ocugen (NASDAQ:OCGN) Rating Lowered to “Sell” at Wall Street Zen

Ocugen (NASDAQ:OCGN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

OCGN has been the topic of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research note on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Ocugen in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

Ocugen Stock Down 7.5%

Shares of OCGN opened at $1.61 on Friday. The company has a debt-to-equity ratio of 8.04, a quick ratio of 1.06 and a current ratio of 1.06. Ocugen has a one year low of $0.52 and a one year high of $2.00. The stock has a market capitalization of $527.91 million, a price-to-earnings ratio of -7.00 and a beta of 2.75. The stock has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.43.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Ocugen had a negative return on equity of 2,626.38% and a negative net margin of 1,192.18%.The company had revenue of ($0.19) million for the quarter, compared to analyst estimates of $0.86 million. Equities research analysts forecast that Ocugen will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Ocugen

Hedge funds and other institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new position in shares of Ocugen during the 4th quarter worth $31,000. BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 13,326 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Ocugen by 198.0% in the second quarter. NewEdge Advisors LLC now owns 36,814 shares of the company’s stock valued at $36,000 after purchasing an additional 24,460 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Ocugen during the fourth quarter worth about $38,000. Finally, Cora Capital Advisors LLC increased its position in Ocugen by 27.5% during the fourth quarter. Cora Capital Advisors LLC now owns 30,143 shares of the company’s stock worth $41,000 after purchasing an additional 6,500 shares during the last quarter. 10.27% of the stock is owned by institutional investors and hedge funds.

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.