Ocugen (NASDAQ:OCGN) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Ocugen (NASDAQ:OCGN) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other analysts have also commented on OCGN. Chardan Capital reaffirmed a “buy” rating and set a $7.00 target price on shares of Ocugen in a report on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Ocugen in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

Ocugen Stock Down 7.5%

Shares of NASDAQ:OCGN opened at $1.61 on Friday. Ocugen has a one year low of $0.52 and a one year high of $2.00. The company has a 50 day moving average of $1.58 and a 200-day moving average of $1.43. The company has a debt-to-equity ratio of 8.04, a current ratio of 1.06 and a quick ratio of 1.85. The stock has a market cap of $527.92 million, a price-to-earnings ratio of -7.00 and a beta of 2.75.

Ocugen (NASDAQ:OCGN) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Ocugen had a negative net margin of 1,192.18% and a negative return on equity of 2,626.38%. The business had revenue of ($0.19) million during the quarter, compared to the consensus estimate of $0.86 million. On average, sell-side analysts forecast that Ocugen will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OCGN. Y Intercept Hong Kong Ltd bought a new stake in Ocugen in the second quarter valued at approximately $333,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Ocugen during the second quarter worth $130,000. SmartHarvest Portfolios LLC acquired a new position in shares of Ocugen in the 4th quarter valued at $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Ocugen in the 4th quarter valued at $289,000. Finally, UBS Group AG increased its position in shares of Ocugen by 373.2% in the 4th quarter. UBS Group AG now owns 4,849,353 shares of the company’s stock valued at $6,547,000 after buying an additional 3,824,474 shares in the last quarter. Institutional investors and hedge funds own 10.27% of the company’s stock.

About Ocugen

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing gene therapies to treat rare inherited retinal diseases, as well as vaccines designed to address unmet needs in infectious diseases. Headquartered in Malvern, Pennsylvania, the company applies its proprietary gene therapy platform to create novel treatments aimed at preserving and restoring vision, while leveraging strategic partnerships to broaden its vaccine pipeline.

In its gene therapy portfolio, Ocugen is advancing multiple programs targeting retinal disorders.