Ocugen CEO Shankar Musunuri sells $499,691 of company stock

Ocugen's CEO Shankar Musunuri sold 525,991 shares of company stock, totaling approximately $499,691. The shares were sold at prices between $0.90 and $0.99, with a weighted average price of $0.95 per share. Musunuri personally disposed of 468,727 shares, bringing his direct ownership down to 4,018,470 shares. Following the transaction, the stock price dropped to $0.89, trading 2% above its 52-week low of $0.87, a 11% decline over the past week.

Another 57,264 shares were sold indirectly through KVM Holdings, LLC, of which Musunuri is a member and officer, now owning 1,030,771 shares. These sales were made under a Rule 10b5-1 trading plan, adopted by Musunuri on June 5, 2026. Ocugen reported stronger-than-expected revenue of $1.48 million in Q2 2026, beating expectations of $833,290, but posted a wider-than-anticipated adjusted loss of $0.07 per share.

H.C. Wainwright adjusted its price target for Ocugen's stock from $9.50 to $10.00 after the Bahamas approved Ocugen's gene therapy, OCU400, for retinitis pigmentosa. The company held a virtual Special Meeting of Stockholders to extend voting time for an amendment to increase authorized shares by 250 million.