Ocugen (NASDAQ:OCGN) Given Buy Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Ocugen (NASDAQ:OCGN) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Separately, HC Wainwright lifted their price objective on shares of Ocugen from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday.

Ocugen Trading Up 6.5 %

Shares of Ocugen stock opened at $0.70 on Thursday. Ocugen has a 12-month low of $0.61 and a 12-month high of $2.11. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $0.78 and its 200-day moving average is $0.98. The stock has a market cap of $204.71 million, a P/E ratio of -3.90 and a beta of 3.82.

Institutional Investors Weigh In On Ocugen

A number of large investors have recently added to or reduced their stakes in OCGN. XTX Topco Ltd increased its holdings in shares of Ocugen by 8.5% in the fourth quarter. XTX Topco Ltd now owns 254,995 shares of the company’s stock valued at $205,000 after purchasing an additional 19,894 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ocugen during the 4th quarter worth about $1,681,000. Invesco Ltd. grew its stake in Ocugen by 39.0% in the 4th quarter. Invesco Ltd. now owns 173,553 shares of the company’s stock valued at $140,000 after buying an additional 48,679 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Ocugen by 63.3% in the 4th quarter. Wells Fargo & Company MN now owns 141,773 shares of the company’s stock valued at $114,000 after acquiring an additional 54,935 shares during the period. Finally, Geode Capital Management LLC lifted its position in Ocugen by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 6,588,407 shares of the company’s stock worth $5,305,000 after acquiring an additional 309,853 shares during the last quarter. Institutional investors own 10.27% of the company’s stock.

About Ocugen

Ocugen, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve patients’ health. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, currently under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of leber congenital amaurosis; OCU410, a gene therapy under phase 1/2 for the treatment of dry age-related macular degeneration (AMD); and OCU410ST, a gene therapy under phase 1/2 for the treatment of Stargardt disease.