What is the 13F Pro Quality Score for OCGN?

13F Pro ranks Ocugen, Inc. (OCGN) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View OCGN's current score at https://13fpro.ai/research/OCGN (free sign-up required for the full ranking).

Where does 13F Pro source OCGN data?

All Ocugen, Inc. fundamentals and ownership data come directly from SEC EDGAR. Ocugen, Inc. files with the SEC under CIK 1372299. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is OCGN in?

Ocugen, Inc. (OCGN) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is OCGN research updated on 13F Pro?

OCGN's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Ocugen, Inc.(OCGN)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $6.0M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

OCGN Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Ocugen, Inc. (OCGN), a Healthcare sector company. OCGN is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $6.0m in revenue. Based on the latest XBRL financial filings (Q1 2026), Ocugen, Inc. reports quarterly revenue of $1.5M, net income of $-19.2M, free cash flow of $-21.8M. Top institutional holders of OCGN by reported 13-F value include VANGUARD CAPITAL MANAGEMENT, MILLENNIUM MANAGEMENT, STATE STREET, based on the most recent SEC filings. OCGN trades on the Nasdaq exchange and files with the SEC under CIK 1372299. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate OCGN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Ocugen, Inc. directly from SEC EDGAR.

Revenue

Q1 2026

$1.5M

Net Income

Q1 2026

$-19.2M

Free Cash Flow

Q1 2026

$-21.8M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-26.9% YoY

$4.4MFY 2025

FY20 $43.0KFY21 $0.00FY23 $6.0MFY25 $4.4M

Net Income

-7.9% YoY

$-68.0MFY 2025

FY20 $-21.8MFY21 $-58.4MFY23 $-63.0MFY25 $-68.0M

Operating Income

+4.0% YoY

$-62.9MFY 2025

FY20 $-21.3MFY21 $-58.0MFY23 $-65.5MFY25 $-62.9M

EPS (Diluted)

—FY 2025

FY20 $-0.31FY21 $-0.30FY23 $-0.26FY25 —

Total Assets

-32.6% YoY

$43.5MFY 2025

FY20 $27.4MFY21 $105.8MFY23 $64.5MFY25 $43.5M

Total Debt

+928.3% YoY

$28.8MFY 2025

FY20 $2.3MFY21 $1.7MFY23 $2.8MFY25 $28.8M

Op. Cash Flow

+8.2% YoY

$-57.0MFY 2025

FY20 $-14.7MFY21 $-47.9MFY23 $-62.1MFY25 $-57.0M

Metric	FY 2025	FY 2023	FY 2021	FY 2020	FY 2019	FY 2016
Revenue	$4.4M -26.9%	$6.0M	$0.00 -100.0%	$43.0K	$0.00	$0.00
Net Income	$-68.0M -7.9%	$-63.0M -7.9%	$-58.4M -167.5%	$-21.8M -7.8%	$-20.2M -24.9%	$-16.2M
Operating Income	$-62.9M +4.0%	$-65.5M -12.9%	$-58.0M -172.6%	$-21.3M -50.3%	$-14.2M +53.3%	$-30.3M
EPS (Diluted)	—	$-0.26 +13.3%	$-0.30 +3.2%	$-0.31 +78.8%	$-1.46 +33.0%	$-2.18
Total Assets	$43.5M -32.6%	$64.5M -39.0%	$105.8M +286.3%	$27.4M +62.9%	$16.8M -53.4%	$36.1M
Total Debt	$28.8M +928.3%	$2.8M +63.6%	$1.7M -25.3%	$2.3M +113.7%	$1.1M	—
Operating Cash Flow	$-57.0M +8.2%	$-62.1M -29.4%	$-47.9M -225.9%	$-14.7M +12.9%	$-16.9M	—

AI Insight: OCGN Financial Trends

Ocugen remains pre-revenue with persistent operating losses and eroding equity; Q1 2026 shows no improvement in burn rate.

• Revenue flat at $1–2M across 9 quarters; operating losses persist in $13–18M range with no path to profitability visible.

• Operating cash flow deteriorated to –$22M in Q1 2026, worst quarter on record; cumulative burn ~$130M since Q2 2024.

• Equity collapsed from $41M (Q3 2024) to –$12M (Q4 2025), recovered slightly to $6M in Q1 2026 but remains near insolvency.

⚠ Negative shareholders' equity in Q4 2025 signals technical insolvency; company dependent on debt financing or equity raise to survive.

⚠ Debt stable ~$28–29M while equity deteriorates; leverage ratio now unsustainable given zero revenue growth and accelerating cash burn.

AI Insight: OCGN Ratio Trends

Ocugen's leverage surged 29× from Q2 2024 to Q2 2025, then stabilized; profitability metrics remain deeply negative across all measured periods.

• Debt-to-equity exploded from 0.17 in Q2 2024 to 9.18 in Q2 2025, signaling aggressive debt issuance or equity dilution.

• ROA remained severely negative through Q1 2025 (−95.2%), indicating persistent operating losses relative to asset base.

• D/E has moderated from 9.18 (Q2 2025) to 5.03 (TTM/Q1 2026), suggesting partial deleveraging or debt restructuring.

⚠ Profitability remains absent; no positive OpMargin, NPM, ROE, ROA, or ROIC recorded across the 9-quarter span.

⚠ D/E stabilization at 5.03 must be confirmed in future quarters; sustained high leverage threatens financial flexibility.

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Available Research

13F Pro tracks comprehensive data for Ocugen, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of OCGN

VANGUARD CAPITAL MANAGEMENT LLC
$25.0M13,804,111 sh
MILLENNIUM MANAGEMENT LLC
$24.8M13,727,192 sh
STATE STREET CORP
$17.5M9,670,191 sh
MARSHALL WACE, LLP
$14.6M8,052,350 sh
BlackRock, Inc.
$13.2M7,304,979 sh
UBS Group AG
$13.2M7,280,320 sh
RTW INVESTMENTS, LP
$12.1M6,666,666 sh
GEODE CAPITAL MANAGEMENT, LLC
$7.7M4,227,104 sh
Ikarian Capital, LLC
$7.2M3,962,972 sh
Qube Research & Technologies Ltd
$6.8M3,773,066 sh

Fund	Value	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$25.0M	13,804,111
MILLENNIUM MANAGEMENT LLC	$24.8M	13,727,192
STATE STREET CORP	$17.5M	9,670,191
MARSHALL WACE, LLP	$14.6M	8,052,350
BlackRock, Inc.	$13.2M	7,304,979
UBS Group AG	$13.2M	7,280,320
RTW INVESTMENTS, LP	$12.1M	6,666,666
GEODE CAPITAL MANAGEMENT, LLC	$7.7M	4,227,104
Ikarian Capital, LLC	$7.2M	3,962,972
Qube Research & Technologies Ltd	$6.8M	3,773,066

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Is OCGN a good stock to buy?

13F Pro's AI-powered analysis of Ocugen, Inc. (OCGN) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for OCGN are available on the OCGN stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own OCGN?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling OCGN. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Ocugen, Inc.'s investment landscape.