Ocugen (NASDAQ:OCGN) Shares Down 10.7%

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Shares of Ocugen (NASDAQ:OCGN) dropped 10.7% during mid-day trading on Thursday . The company traded as low as $0.28 and last traded at $0.25, approximately 177,085 shares traded hands during trading. A decline of 97% from the average daily volume of 6,273,238 shares. The stock had previously closed at $0.28.

OCGN has been the topic of a number of recent analyst reports. Chardan Capital reduced their price target on Ocugen from $2.00 to $0.70 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. HC Wainwright downgraded Ocugen from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Finally, Zacks Investment Research downgraded Ocugen from a “buy” rating to a “hold” rating in a research report on Friday, June 5th.

The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $0.31 and a 200-day moving average of $0.41. The stock has a market capitalization of $20.97 million, a price-to-earnings ratio of -0.17 and a beta of 2.25.

Ocugen (NASDAQ:OCGN) last released its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). On average, equities research analysts anticipate that Ocugen will post -0.19 EPS for the current year.

An institutional investor recently raised its position in Ocugen stock. Virtu Financial LLC lifted its position in shares of Ocugen (NASDAQ:OCGN) by 2,626.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,011 shares of the company’s stock after acquiring an additional 432,541 shares during the quarter. Virtu Financial LLC owned 2.81% of Ocugen worth $233,000 as of its most recent SEC filing. Institutional investors own 3.62% of the company’s stock.

Ocugen Company Profile (NASDAQ:OCGN)

Ocugen, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. The company offers an ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules, as well as targets a range of retinal and ocular surface diseases.

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