Ocugen (NASDAQ:OCGN) Shares Down 8.1%

Ocugen (NASDAQ:OCGN) Shares Down 8.1%

Shares of Ocugen (NASDAQ:OCGN) traded down 8.1% during mid-day trading on Monday . The stock traded as low as $0.62 and last traded at $0.57, 83,542 shares traded hands during mid-day trading. A decline of 99% from the average session volume of 8,640,270 shares. The stock had previously closed at $0.62.

Several equities analysts recently issued reports on the stock. ValuEngine lowered shares of Ocugen from a “buy” rating to a “hold” rating in a report on Monday, December 30th. HC Wainwright assumed coverage on shares of Ocugen in a report on Friday, December 20th. They issued a “buy” rating and a $1.25 target price on the stock. Finally, Chardan Capital assumed coverage on shares of Ocugen in a report on Wednesday, November 27th. They issued a “buy” rating and a $2.00 target price on the stock.

The stock has a market cap of $9.76 million, a price-to-earnings ratio of -0.01 and a beta of 2.71. The stock’s fifty day simple moving average is $0.43.

Ocugen (NASDAQ:OCGN) last released its earnings results on Tuesday, November 12th. The company reported ($0.66) earnings per share (EPS) for the quarter. Sell-side analysts expect that Ocugen will post -3.68 EPS for the current fiscal year.

In other news, CEO Shankar Musunuri bought 406,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 directly owns 263,000 shares of the company’s stock, valued at approximately $89,420. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Junge Zhang bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $0.41 per share, with a total value of $41,000.00. Following the completion of the transaction, the director now directly owns 135,078 shares in the company, valued at $55,381.98. The disclosure for this purchase can be found here. Insiders have bought 1,196,000 shares of company stock worth $421,790 in the last quarter. Company 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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