Wells Fargo & Company MN Increases Holdings in Ocugen, Inc. (NASDAQ:OCGN)

Wells Fargo & Company MN boosted its holdings in shares of Ocugen, Inc. (NASDAQ:OCGN) by 63.3% during the fourth quarter, Holdings Channel reports. The firm owned 141,773 shares of the company’s stock after acquiring an additional 54,935 shares during the quarter. Wells Fargo & Company MN’s holdings in Ocugen were worth $114,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Ocugen during the 4th quarter worth approximately $32,000. SBI Securities Co. Ltd. purchased a new position in shares of Ocugen during the 4th quarter worth approximately $40,000. SG Americas Securities LLC grew its holdings in shares of Ocugen by 72.7% during the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock worth $123,000 after acquiring an additional 64,080 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Ocugen during the 4th quarter worth approximately $132,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Ocugen by 149.2% during the 4th quarter. JPMorgan Chase & Co. now owns 296,615 shares of the company’s stock worth $239,000 after acquiring an additional 177,594 shares during the period. Hedge funds and other institutional investors own 10.27% of the company’s stock.

Ocugen Price Performance

NASDAQ:OCGN opened at $0.67 on Monday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $0.66 and its two-hundred day simple moving average is $0.76. The stock has a market cap of $195.80 million, a PE ratio of -3.72 and a beta of 4.21. Ocugen, Inc. has a 52 week low of $0.52 and a 52 week high of $2.06.

Ocugen (NASDAQ:OCGN) last issued its quarterly earnings data on Friday, May 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $1.48 million during the quarter. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. As a group, analysts forecast that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OCGN. Chardan Capital upped their price target on Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Ocugen in a research note on Thursday, March 6th.

About Ocugen

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.