SG Americas Securities LLC Acquires New Position in Ocugen, Inc. (NASDAQ:OCGN)

SG Americas Securities LLC bought a new position in Ocugen, Inc. (NASDAQ:OCGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 88,096 shares of the company’s stock, valued at approximately $87,000.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in Ocugen in the 2nd quarter worth about $166,000. Xponance Inc. acquired a new stake in shares of Ocugen during the 2nd quarter valued at about $25,000. Profund Advisors LLC bought a new stake in shares of Ocugen in the 2nd quarter valued at approximately $227,000. E Fund Management Co. Ltd. bought a new position in Ocugen during the second quarter valued at approximately $75,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Ocugen in the second quarter valued at approximately $67,000. 10.27% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen Price Performance

NASDAQ OCGN opened at $1.01 on Tuesday. Ocugen, Inc. has a 1 year low of $0.35 and a 1 year high of $2.11. The company has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $1.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market cap of $290.74 million, a P/E ratio of -5.32 and a beta of 3.70.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $1.14 million during the quarter. During the same quarter last year, the firm posted ($0.10) EPS. On average, sell-side analysts predict that Ocugen, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on OCGN. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Ocugen in a research note on Wednesday, October 23rd. Maxim Group started coverage on Ocugen in a research note on Tuesday, October 15th. They set a “buy” rating and a $4.00 price target for the company.

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.