Ocugen’s (OCGN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report released on Monday morning,Benzinga reports. They currently have a $7.00 price objective on the stock.

Several other brokerages have also issued reports on OCGN. Maxim Group began coverage on Ocugen in a research note on Tuesday, October 15th. They issued a “buy” rating and a $4.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $6.00 target price on shares of Ocugen in a research report on Friday, November 8th.

Ocugen Price Performance

Ocugen stock opened at $0.96 on Monday. The firm has a 50 day moving average price of $1.02 and a 200-day moving average price of $1.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Ocugen has a twelve month low of $0.35 and a twelve month high of $2.11.

Institutional Trading of Ocugen

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of Ocugen by 2,760.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,819 shares of the company’s stock valued at $1,165,000 after purchasing an additional 725,536 shares in the last quarter. Rhumbline Advisers grew its position in Ocugen by 3,040.0% during the second quarter. Rhumbline Advisers now owns 301,218 shares of the company’s stock worth $467,000 after buying an additional 291,625 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Ocugen during the third quarter worth about $203,000. Profund Advisors LLC purchased a new stake in shares of Ocugen in the 2nd quarter valued at about $227,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Ocugen during the 2nd quarter valued at about $166,000. Hedge funds and other institutional investors own 10.27% of the company’s stock.

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.