Insider Selling: Ocugen, Inc. (NASDAQ:OCGN) CEO Sells 195,809 Shares of Stock

Ocugen, Inc. (NASDAQ:OCGN) CEO Shankar Musunuri sold 195,809 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $14.24, for a total value of $2,788,320.16. Following the sale, the chief executive officer now owns 601,809 shares in the company, valued at approximately $8,569,760.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ OCGN opened at $15.68 on Tuesday. The stock has a fifty day simple moving average of $8.12 and a two-hundred day simple moving average of $4.42. Ocugen, Inc. has a 1-year low of $0.17 and a 1-year high of $18.77. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -10.59 and a beta of 3.56. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.13.

Ocugen (NASDAQ:OCGN) last posted its earnings results on Wednesday, March 17th. The company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Analysts forecast that Ocugen, Inc. will post -0.28 EPS for the current year.

Several equities analysts have weighed in on OCGN shares. Chardan Capital lowered Ocugen from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 9th. Zacks Investment Research downgraded Ocugen from a “buy” rating to a “hold” rating in a research report on Thursday, February 11th. Cantor Fitzgerald upped their price objective on Ocugen from $1.00 to $4.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Roth Capital increased their price target on Ocugen from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 4th. Finally, HC Wainwright raised Ocugen from a “neutral” rating to a “buy” rating and set a $4.50 price target for the company in a report on Thursday, February 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.04.

A number of institutional investors and hedge funds have recently modified their holdings of OCGN. Arkadios Wealth Advisors grew its stake in shares of Ocugen by 12.5% during the first quarter. Arkadios Wealth Advisors now owns 11,250 shares of the company’s stock valued at $76,000 after buying an additional 1,250 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Ocugen by 29.2% in the 4th quarter. Victory Capital Management Inc. now owns 25,243 shares of the company’s stock worth $46,000 after buying an additional 5,712 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Ocugen during the first quarter valued at about $53,000. LMR Partners LLP bought a new position in Ocugen in the fourth quarter worth about $26,000. Finally, Royal Fund Management LLC bought a new position in shares of Ocugen in the 4th quarter worth approximately $30,000. 8.53% of the stock is owned by institutional investors and hedge funds.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. 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, such as retinitis pigmentosa and leber congenital amaurosis; OCU410, gene therapy candidate for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD.

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Insider Buying and Selling by Quarter for Ocugen (NASDAQ:OCGN)

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