Ocugen, Inc. (NASDAQ:OCGN) Shares Purchased by State Street Corp

State Street Corp lifted its position in Ocugen, Inc. (NASDAQ:OCGN) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,824,517 shares of the company’s stock after buying an additional 1,047,896 shares during the quarter. State Street Corp owned approximately 0.05% of Ocugen worth $15,701,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. acquired a new position in Ocugen in the 2nd quarter worth about $25,000. MetLife Investment Management LLC grew its stake in shares of Ocugen by 36.4% in the third quarter. MetLife Investment Management LLC now owns 89,508 shares of the company’s stock worth $89,000 after acquiring an additional 23,877 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Ocugen in the second quarter valued at about $51,000. Daiwa Securities Group Inc. acquired a new stake in shares of Ocugen during the 2nd quarter worth approximately $67,000. Finally, E Fund Management Co. Ltd. bought a new position in shares of Ocugen during the 2nd quarter worth about $75,000. 10.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OCGN has been the subject of a number of analyst reports. Maxim Group initiated coverage on shares of Ocugen in a research note on Tuesday, October 15th. They set a “buy” rating and a $4.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Ocugen in a report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Ocugen in a research note on Monday, November 11th.

Ocugen Stock Performance

Shares of NASDAQ:OCGN opened at $0.72 on Wednesday. Ocugen, Inc. has a fifty-two week low of $0.46 and a fifty-two week high of $2.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.58 and a quick ratio of 2.58. The company has a market capitalization of $209.23 million, a price-to-earnings ratio of -3.99 and a beta of 3.82. The firm’s 50 day simple moving average is $0.92 and its 200 day simple moving average is $1.19.

Ocugen Profile

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.