Geode Capital Management LLC Has $6.23 Million Stake in Ocugen, Inc. (NASDAQ:OCGN)

Geode Capital Management LLC grew its stake in shares of Ocugen, Inc. (NASDAQ:OCGN) by 6.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,278,554 shares of the company’s stock after buying an additional 373,555 shares during the period. Geode Capital Management LLC’s holdings in Ocugen were worth $6,231,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in OCGN. Bank of New York Mellon Corp increased its stake in Ocugen by 2,760.5% during the second quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after acquiring an additional 725,536 shares during the period. Rhumbline Advisers raised its stake in shares of Ocugen by 3,040.0% in the second quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock valued at $467,000 after purchasing an additional 291,625 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Ocugen during the second quarter worth $51,000. Daiwa Securities Group Inc. bought a new stake in Ocugen in the 2nd quarter valued at $67,000. Finally, E Fund Management Co. Ltd. bought a new position in shares of Ocugen during the 2nd quarter worth about $75,000. Institutional investors own 10.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OCGN. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Ocugen in a research note on Monday, November 11th. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Ocugen in a report on Monday, November 18th. Finally, Maxim Group started coverage on Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 price target on the stock.

Ocugen Price Performance

NASDAQ:OCGN opened at $0.89 on Friday. 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 firm has a market cap of $260.59 million, a PE ratio of -4.97 and a beta of 3.82. Ocugen, Inc. has a 12 month low of $0.49 and a 12 month high of $2.11. The company’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $1.15.

Ocugen Company 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.