Tuesday, January 19, 2021

Market cap of Ocugen Inc. [OCGN] reaches 453.70M – now what?

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Ocugen Inc. [NASDAQ: OCGN] traded at a low on 01/08/21, posting a -3.93 loss after which it closed the day’ session at $2.69. The company report on January 9, 2021 that Ocugen Inc. Regains Compliance with Nasdaq Bid Price Rule.

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Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to fight COVID-19, received formal notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with Listing Rule 5550(a)(2).


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Previously, on December 27, 2019, Nasdaq had notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. In order to regain compliance with Rule 5550(a)(2), the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. On September 8, 2020, Nasdaq had granted the Company an additional 180-days, or until March 8, 2021, to regain compliance. Since then, for the 10 consecutive business days from December 23, 2020 to January 7, 2021, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. Accordingly, Nasdaq has informed the Company that it has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed.

The results of the trading session contributed to over 23254096 shares changing hands. Over the past one week, the price volatility of Ocugen Inc. stands at 16.85% while the volatility over the past one month is 18.51%.

The market cap for OCGN stock reached $453.70 million, with 162.03 million shares outstanding and 155.85 million shares in the current float. Compared to the average trading volume of 44.95M shares, OCGN reached a trading volume of 23254096 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 0.40, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 10645.13. The Price to Book ratio for the last quarter was 26.90, with the Price to Cash per share for the same quarter was set at 0.11.

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 46.99. With this latest performance, OCGN shares gained by 789.26% in over the last four-week period, additionally plugging by 1143.07% over the last 6 months – not to mention a rise of 301.49% 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 67.03, with the RSI for the last a single of trading hit 65.69, and the three-weeks RSI is set at 67.59 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 0.77, while it was recorded at 2.79 for the last single week of trading, and 0.45 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 4.80 and a Current Ratio set at 4.80.

Earnings analysis for Ocugen Inc. [OCGN]

With the latest financial reports released by the company, Ocugen Inc. posted 4.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3,050.00%. 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 $37 million, or 13.10% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 7,437,567, which is approximately 2158.016% of the company’s market cap and around 3.26% of the total institutional ownership; BLACKROCK INC., holding 5,018,690 shares of the stock with an approximate value of $13.5 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.47 million in OCGN stock with ownership of nearly 171.877% of the company’s market capitalization.

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14 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 12,223,944 shares. Additionally, 8 investors decreased positions by around 959,286 shares, while 3 investors held positions by with 634,970 shares. The mentioned changes placed institutional holdings at 13,818,200 shares, according to the latest SEC report filing. OCGN stock had 5 new institutional investments in for a total of 107,473 shares, while 7 institutional investors sold positions of 860,448 shares during the same period.

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