Ocugen (NASDAQ:OCGN) Sees Unusually-High Trading Volume
Ocugen (NASDAQ:OCGN) shares saw an uptick in trading volume on Wednesday . 12,785,635 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 8,854,023 shares.The stock last traded at $0.67 and had previously closed at $0.60.
A number of brokerages have issued reports on OCGN. ValuEngine lowered Ocugen from a “buy” rating to a “hold” rating in a research report on Monday, December 30th. HC Wainwright began coverage on Ocugen in a research report on Friday, December 20th. They issued a “buy” rating and a $1.25 target price on the stock. Finally, Chardan Capital began coverage on Ocugen in a research report on Wednesday, November 27th. They issued a “buy” rating and a $2.00 target price on the stock.
The stock has a market capitalization of $10.64 million, a price-to-earnings ratio of -0.02 and a beta of 2.71. The company’s 50-day moving average is $0.47.
In other news, CEO Shankar Musunuri purchased 406,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $0.34 per share, with a total value of $138,040.00. Following the transaction, the chief executive officer now owns 263,000 shares in the company, valued at approximately $89,420. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Junge Zhang purchased 115,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $0.27 per share, for a total transaction of $31,050.00. Following the completion of the transaction, the director now owns 215,078 shares in the company, valued at approximately $58,071.06. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,196,000 shares of company stock worth $421,790. Corporate insiders own 44.70% of the company’s stock.
About Ocugen (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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