Ocugen (NASDAQ:OCGN) Sees Large Decrease in Short Interest
Ocugen (NASDAQ:OCGN) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 1,540,000 shares, a decrease of 24.9% from the January 15th total of 2,050,000 shares. Based on an average trading volume of 7,150,000 shares, the short-interest ratio is currently 0.2 days. Currently, 14.9% of the shares of the company are short sold.
Several equities analysts have issued reports on the stock. Chardan Capital assumed coverage on shares of Ocugen in a research note on Wednesday, November 27th. They issued a “buy” rating and a $2.00 price objective for the company. ValuEngine upgraded shares of Ocugen from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright assumed coverage on shares of Ocugen in a research note on Friday, December 20th. They issued a “buy” rating and a $1.25 price objective for the company.
In related news, CEO Shankar Musunuri acquired 406,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $0.34 per share, for a total transaction of $138,040.00. Following the completion of the purchase, the chief executive officer now directly owns 263,000 shares of the company’s stock, valued at approximately $89,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Junge Zhang acquired 115,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $0.27 per share, with a total value of $31,050.00. Following the purchase, the director now directly owns 215,078 shares of the company’s stock, valued at $58,071.06. The disclosure for this purchase can be found here. Insiders acquired 1,196,000 shares of company stock valued at $421,790 in the last 90 days. 44.70% of the stock is currently owned by insiders.
NASDAQ OCGN traded up $0.01 during trading hours on Friday, hitting $0.57. The company had a trading volume of 1,525,136 shares, compared to its average volume of 5,834,224. Ocugen has a 1-year low of $0.23 and a 1-year high of $21.60. The stock has a market cap of $8.96 million, a P/E ratio of -0.01 and a beta of 2.65. The firm has a 50 day moving average of $0.59.
Ocugen (NASDAQ:OCGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.66) earnings per share for the quarter. As a group, research analysts forecast that Ocugen will post -3.68 EPS for the current year.
Ocugen Company Profile
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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