Ocugen (NASDAQ:OCGN) Shares Up 4.8% on Insider Buying Activity
Ocugen (NASDAQ:OCGN)’s stock price shot up 4.8% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $0.45 and last traded at $0.44, 172,415 shares were traded during mid-day trading. A decline of 97% from the average session volume of 6,808,744 shares. The stock had previously closed at $0.42.
Specifically, Director Howard C. Draft acquired 68,965 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was acquired at an average cost of $29.00 per share, with a total value of $1,999,985.00. Also, Director Junge Zhang acquired 270,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $0.37 per share, with a total value of $99,900.00. Following the completion of the acquisition, the director now directly owns 600,078 shares in the company, valued at $222,028.86. The disclosure for this purchase can be found here. In the last quarter, insiders bought 679,043 shares of company stock valued at $2,308,446. Insiders own 44.70% of the company’s stock.
OCGN has been the subject of a number of analyst reports. Chardan Capital began coverage on Ocugen in a research report on Wednesday, November 27th. They set a “buy” rating and a $2.00 price target for the company. ValuEngine raised Ocugen from a “hold” rating to a “buy” rating in a report on Friday, November 1st.
Ocugen (NASDAQ:OCGN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.66) EPS for the quarter.
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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