Hennion & Walsh Asset Management Inc. increased its Ocugen, Inc. holdings during the second quarter. The firm boosted its position by 121.7%. It purchased over 1.55 million additional shares. The firm now owns approximately 2.83 million shares. These holdings are valued at roughly $4.33 million. This position represents 0.84% of the company. Total institutional ownership of Ocugen now stands at 10.27%.
The investment follows the FDA clearing Ocugen to begin a Phase 3 clinical trial for OCU410. This candidate targets geographic atrophy. Ocugen also secured $130 million in convertible-notes financing. This capital is expected to extend the company's cash runway into 2028. The funding supports key late-stage clinical programs.
Ocugen recently reported a quarterly loss of $0.07 per share. This figure was wider than analyst expectations. Market focus remains on clinical pipeline progress and the company's strengthened balance sheet. Analysts maintain a Moderate Buy consensus on the stock.