Ocugen, Inc. (NASDAQ:OCGN) Short Interest Update
by Doug Wharley · The Cerbat GemOcugen, Inc. (NASDAQ:OCGN – Get Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 46,392,427 shares, a drop of 21.4% from the December 15th total of 58,994,853 shares. Currently, 15.5% of the company’s shares are short sold. Based on an average daily volume of 4,081,573 shares, the days-to-cover ratio is currently 11.4 days. Based on an average daily volume of 4,081,573 shares, the days-to-cover ratio is currently 11.4 days. Currently, 15.5% of the company’s shares are short sold.
Analyst Ratings Changes
OCGN has been the subject of a number of analyst reports. Wall Street Zen raised shares of Ocugen from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Ocugen in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.
View Our Latest Stock Analysis on Ocugen
Ocugen Stock Up 4.3%
Ocugen stock traded up $0.07 during mid-day trading on Friday, hitting $1.69. The company’s stock had a trading volume of 8,176,668 shares, compared to its average volume of 5,101,512. Ocugen has a 52-week low of $0.52 and a 52-week high of $1.96. The company has a market cap of $527.82 million, a PE ratio of -7.68 and a beta of 3.50. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50 day moving average is $1.36 and its 200 day moving average is $1.29.
Ocugen (NASDAQ:OCGN – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $3.50 million for the quarter, compared to analysts’ expectations of $0.44 million. Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 491.22%. On average, analysts anticipate that Ocugen will post -0.2 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Ocugen during the 4th quarter valued at $1,358,000. Procyon Advisors LLC raised its holdings in shares of Ocugen by 6.2% during the fourth quarter. Procyon Advisors LLC now owns 224,100 shares of the company’s stock worth $303,000 after acquiring an additional 13,000 shares in the last quarter. NewEdge Advisors LLC boosted its position in Ocugen by 117.7% during the third quarter. NewEdge Advisors LLC now owns 80,155 shares of the company’s stock valued at $131,000 after purchasing an additional 43,341 shares during the last quarter. XTX Topco Ltd grew its stake in Ocugen by 117.2% in the third quarter. XTX Topco Ltd now owns 455,293 shares of the company’s stock valued at $742,000 after purchasing an additional 245,671 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in Ocugen in the 3rd quarter worth about $171,000. Institutional investors and hedge funds own 10.27% of the company’s stock.
About Ocugen
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.