Renaissance Technologies LLC Invests $1.68 Million in Ocugen, Inc. (NASDAQ:OCGN)

Renaissance Technologies LLC acquired a new position in Ocugen, Inc. (NASDAQ:OCGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,087,632 shares of the company's stock, valued at approximately $1,681,000. Renaissance Technologies LLC owned about 0.72% of Ocugen as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OCGN. Virtu Financial LLC bought a new stake in shares of Ocugen in the 4th quarter worth approximately $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Ocugen in the 4th quarter worth approximately $40,000. Wells Fargo & Company MN lifted its holdings in shares of Ocugen by 63.3% in the 4th quarter. Wells Fargo & Company MN now owns 141,773 shares of the company's stock worth $114,000 after acquiring an additional 54,935 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ocugen by 72.7% in the 4th quarter. SG Americas Securities LLC now owns 152,176 shares of the company's stock worth $123,000 after acquiring an additional 64,080 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ocugen in the 4th quarter worth approximately $132,000. 10.27% of the stock is currently owned by institutional investors.

Ocugen Stock Down 2.4 %

Shares of Ocugen stock opened at $0.72 on Monday. 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 company's fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.78. The company has a market cap of $210.02 million, a P/E ratio of -4.00 and a beta of 3.78. Ocugen, Inc. has a 12-month low of $0.52 and a 12-month high of $2.06.

Ocugen (NASDAQ:OCGN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $0.30 million. Ocugen had a negative net margin of 532.51% and a negative return on equity of 154.75%. During the same period in the previous year, the firm earned ($0.03) EPS. Research analysts anticipate that Ocugen, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OCGN. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of Ocugen in a research note on Thursday, March 6th. Chardan Capital lifted their target price on shares of Ocugen from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th.

Ocugen Profile

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.

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