Ocugen Inc. [NASDAQ: OCGN] jumped around 0.09 points on Tuesday, while shares priced at $0.72 at the close of the session, up 14.65%. The company report on July 27, 2020 that Ocugen Granted FDA Orphan Drug Designation for OCU400 (AAV-hNR2E3) Gene Therapy for the Treatment of RHO Mutation-Associated Retinal Degenerative Disease.
Third orphan drug designation for the same product, OCU400, is unique in Ophthalmology gene therapy and demonstrates its potential to treat many Inherited Retinal Degenerative diseases (IRDs).
Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing transformative therapies to cure blindness diseases, today announced the U.S. Food and Drug Administration (FDA) granted the third Orphan Drug Designation (ODD) for OCU400 in the treatment of RHO mutation-associated retinal degeneration. The RHO mutation is part of the Retinitis Pigmentosa (RP) group of rare, genetic disorders that involve a breakdown and loss of cells in the retina and can lead to visual impairment and blindness. This is one of the larger mutations within the RP class, representing about 12% of RP patients in the US.
Ocugen Inc. stock is now 38.46% up from its year-to-date (YTD) trading value. OCGN Stock saw the intraday high of $0.9577 and lowest of $0.6742 per share. The company’s 52-week high price is 17.40, which means current price is +323.53% above from all time high which was touched on 07/28/20.
Compared to the average trading volume of 24.15M shares, OCGN reached a trading volume of 298932872 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Ocugen Inc. [OCGN]?
The Average True Range (ATR) for Ocugen Inc. is set at 0.09 The Price to Book ratio for the last quarter was 5.14, with the Price to Cash per share for the same quarter was set at 0.03.
How has OCGN stock performed recently?
Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 80.05. With this latest performance, OCGN shares gained by 213.73% in over the last four-week period, additionally plugging by 14.50% over the last 6 months – not to mention a drop of -93.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCGN stock in for the last two-week period is set at 80.21, with the RSI for the last a single of trading hit 84.29, and the three-weeks RSI is set at 77.15 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 0.2758, while it was recorded at 0.4647 for the last single week of trading, and 0.5218 for the last 200 days.
Ocugen Inc. [OCGN]: Deeper insight into the fundamentals
Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.
Earnings analysis for Ocugen Inc. [OCGN]
With the latest financial reports released by the company, Ocugen Inc. posted -6.6/share EPS, while the average EPS was predicted by analysts to be reported at -3.6/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -83.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCGN.
Insider trade positions for Ocugen Inc. [OCGN]
There are presently around $2 million, or 7.60% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 687,514, which is approximately 5629.283% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 645,985 shares of the stock with an approximate value of $0.47 million in OCGN stocks shares; and VIRTU FINANCIAL LLC, currently with $0.32 million in OCGN stock with ownership of nearly 2626.236% of the company’s market capitalization.
12 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 1,880,569 shares. Additionally, 5 investors decreased positions by around 157,098 shares, while 5 investors held positions by with 689,022 shares. The mentioned changes placed institutional holdings at 2,726,689 shares, according to the latest SEC report filing. OCGN stock had 8 new institutional investments in for a total of 588,433 shares, while 5 institutional investors sold positions of 157,098 shares during the same period.