State Street Corp Increases Holdings in Ocugen, Inc. (NASDAQ:OCGN)

State Street Corp increased its holdings in Ocugen, Inc. (NASDAQ:OCGN - Free Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,824,517 shares of the company's stock after acquiring an additional 1,047,896 shares during the quarter. State Street Corp owned approximately 5.50% of Ocugen worth $15,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. bought a new stake in shares of Ocugen in the 2nd quarter valued at about $25,000. Victory Capital Management Inc. bought a new position in Ocugen in the second quarter worth approximately $51,000. Daiwa Securities Group Inc. purchased a new stake in Ocugen during the second quarter worth $67,000. E Fund Management Co. Ltd. bought a new stake in Ocugen during the 2nd quarter valued at $75,000. Finally, SG Americas Securities LLC purchased a new position in shares of Ocugen in the 3rd quarter valued at $87,000. 10.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on OCGN. Chardan Capital reiterated a "buy" rating and set a $6.00 price objective on shares of Ocugen in a research note on Monday, November 18th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Ocugen in a research report on Monday, November 11th. Finally, Maxim Group started coverage on Ocugen in a research report on Tuesday, October 15th. They issued a "buy" rating and a $4.00 price objective for the company.

Ocugen Stock Performance

Shares of NASDAQ OCGN traded down $0.02 during midday trading on Wednesday, reaching $0.72. The company had a trading volume of 4,211,585 shares, compared to its average volume of 6,007,674. Ocugen, Inc. has a 1 year low of $0.46 and a 1 year high of $2.11. The business's 50-day simple moving average is $0.91 and its 200 day simple moving average is $1.18. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.04. The stock has a market cap of $209.23 million, a P/E ratio of -3.99 and a beta of 3.82.

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.