Victory Capital Management Inc. Raises Stake in Ocugen, Inc. (NASDAQ:OCGN)

Victory Capital Management Inc. boosted its position in Ocugen, Inc. (NASDAQ:OCGN) by 54.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,892 shares of the company’s stock after buying an additional 30,426 shares during the period. Victory Capital Management Inc.’s holdings in Ocugen were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Ocugen in the second quarter valued at approximately $586,000. Atom Investors LP purchased a new stake in Ocugen in the second quarter valued at approximately $253,000. Xponance Inc. purchased a new stake in Ocugen in the second quarter valued at approximately $81,000. State Street Corp boosted its position in Ocugen by 115.7% in the second quarter. State Street Corp now owns 10,855,970 shares of the company’s stock valued at $87,173,000 after buying an additional 5,822,035 shares during the last quarter. Finally, Tudor Investment Corp Et Al boosted its position in Ocugen by 86.7% in the second quarter. Tudor Investment Corp Et Al now owns 153,022 shares of the company’s stock valued at $1,229,000 after buying an additional 71,058 shares during the last quarter. Hedge funds and other institutional investors own 27.65% of the company’s stock.

In related news, CFO Sanjay Subramanian sold 10,000 shares of the stock in a transaction on Tuesday, October 26th. The stock was sold at an average price of $11.07, for a total value of $110,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shankar Musunuri sold 115,000 shares of the stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $5.22, for a total value of $600,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 778,769 shares of company stock valued at $8,341,151. Corporate insiders own 3.65% of the company’s stock.

Shares of OCGN stock opened at $4.25 on Friday. The company has a quick ratio of 18.21, a current ratio of 18.21 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $5.93 and a 200-day simple moving average of $7.22. Ocugen, Inc. has a 1-year low of $1.40 and a 1-year high of $18.77.

Ocugen (NASDAQ:OCGN) last announced its earnings results on Tuesday, November 9th. The company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). During the same period last year, the business earned ($0.07) earnings per share. Analysts expect that Ocugen, Inc. will post -0.29 EPS for the current year.

Several equities research analysts have commented on OCGN shares. Roth Capital restated a “hold” rating and issued a $6.00 price objective on shares of Ocugen in a research report on Tuesday, November 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $4.00 price objective on shares of Ocugen in a research report on Tuesday, November 2nd. Zacks Investment Research lowered Ocugen from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Noble Financial restated a “buy” rating and issued a $15.00 price objective on shares of Ocugen in a research report on Monday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.17.

Ocugen Profile

Ocugen, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. The firm’s modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration.

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Institutional Ownership by Quarter for Ocugen (NASDAQ:OCGN)

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