Virtu Financial LLC Buys New Stake in Ocugen, Inc. (NASDAQ:OCGN)

Virtu Financial LLC purchased a new position in shares of Ocugen, Inc. (NASDAQ:OCGN) in the fourth quarter, Holdings Channel reports. The fund purchased 39,322 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds also recently modified their holdings of OCGN. Charles Schwab Investment Management Inc. raised its stake in shares of Ocugen by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 860,244 shares of the company’s stock valued at $692,000 after purchasing an additional 93,288 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Ocugen during the 4th quarter valued at about $40,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Ocugen during the 4th quarter worth about $132,000. Rhumbline Advisers boosted its holdings in shares of Ocugen by 12.9% in the fourth quarter. Rhumbline Advisers now owns 324,475 shares of the company’s stock valued at $261,000 after acquiring an additional 37,034 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Ocugen by 72.7% during the fourth quarter. SG Americas Securities LLC now owns 152,176 shares of the company’s stock valued at $123,000 after acquiring an additional 64,080 shares during the period. Institutional investors own 10.27% of the company’s stock.

Ocugen Trading Down 8.4 %

Shares of NASDAQ:OCGN opened at $0.65 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market capitalization of $188.99 million, a price-to-earnings ratio of -3.60 and a beta of 3.88. Ocugen, Inc. has a 1-year low of $0.52 and a 1-year high of $2.08. The company has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.83.

Ocugen (NASDAQ:OCGN) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $0.76 million during the quarter, compared to analyst estimates of $0.30 million. Ocugen had a negative return on equity of 154.75% and a negative net margin of 532.51%. During the same period last year, the company posted ($0.03) EPS. On average, research analysts anticipate that Ocugen, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on OCGN. Chardan Capital upped their target price on Ocugen from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Ocugen in a research note on Thursday, March 6th.

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.