Ocugen (NASDAQ:OCGN) Short Interest Down 18.2% in August

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Ocugen (NASDAQ:OCGN) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 4,950,000 shares, a decrease of 18.2% from the August 15th total of 6,050,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 33,320,000 shares, the short-interest ratio is currently 0.1 days.

An institutional investor recently raised its position in Ocugen stock. UBS Group AG lifted its position in shares of Ocugen (NASDAQ:OCGN) by 964.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 179,091 shares of the company’s stock after purchasing an additional 162,266 shares during the quarter. UBS Group AG owned about 0.24% of Ocugen worth $39,000 as of its most recent filing with the SEC. 1.39% of the stock is currently owned by hedge funds and other institutional investors.

Ocugen stock traded down $0.00 during trading on Wednesday, reaching $0.33. The company had a trading volume of 308,767 shares, compared to its average volume of 16,133,730. Ocugen has a 12-month low of $0.17 and a 12-month high of $16.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.25 and a current ratio of 3.25. The stock’s 50 day moving average price is $0.46 and its two-hundred day moving average price is $0.35. The firm has a market capitalization of $60.26 million, a price-to-earnings ratio of -0.22 and a beta of 2.59.

Ocugen (NASDAQ:OCGN) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.16). As a group, research analysts expect that Ocugen will post -0.28 earnings per share for the current year.

OCGN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Ocugen from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Chardan Capital reiterated a “buy” rating and issued a $0.70 price target on shares of Ocugen in a report on Sunday, August 16th. Finally, HC Wainwright reaffirmed a “hold” rating on shares of Ocugen in a research report on Monday, August 17th.

About Ocugen

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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