ExodusPoint Capital Management LP Invests $81,000 in Ocugen, Inc. (NASDAQ:OCGN)

ExodusPoint Capital Management LP bought a new position in Ocugen, Inc. (NASDAQ:OCGN – Get Rating) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 45,521 shares of the company’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Ocugen in the 3rd quarter worth about $155,000. Alps Advisors Inc. purchased a new stake in shares of Ocugen in the 2nd quarter worth about $290,000. Tower Research Capital LLC TRC lifted its position in shares of Ocugen by 82.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 126,465 shares of the company’s stock worth $225,000 after purchasing an additional 57,045 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Ocugen by 121.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 70,683 shares of the company’s stock worth $126,000 after purchasing an additional 38,723 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Ocugen by 186.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 46,402 shares of the company’s stock worth $105,000 after purchasing an additional 30,205 shares during the period. 37.54% of the stock is owned by hedge funds and other institutional investors.

Ocugen Stock Up 4.0 %

Shares of Ocugen stock opened at $1.04 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.21 and a current ratio of 5.34. The stock has a market capitalization of $235.48 million, a PE ratio of -2.74 and a beta of 3.89. Ocugen, Inc. has a 52-week low of $0.93 and a 52-week high of $4.03. The company has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.60.

Wall Street Analysts Forecast Growth

OCGN has been the subject of a number of recent research reports. HC Wainwright lowered their price target on shares of Ocugen from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, March 1st. Mizuho lowered their price target on shares of Ocugen from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, March 1st. Finally, Chardan Capital raised shares of Ocugen from a “neutral” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Wednesday, March 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $4.80.

Insiders Place Their Bets

In other news, CEO Shankar Musunuri sold 100,000 shares of Ocugen stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $1.28, for a total value of $128,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,950 shares in the company, valued at $2,851,776. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.81% of the company’s stock.

Ocugen Profile

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Ocugen, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapies to cure eye diseases. Its product pipeline candidates include OCU400, OCU410, OCU200, and COVAXIN. The firm’s modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration.