Ocugen Inc. [NASDAQ: OCGN] stock went on a downward path that fall over -6.46% on Friday, amounting to a one-week price increase of more than 95.81%. The company report on February 11, 2021 that Ocugen, Inc. Announces Closing of $23 Million Registered Direct Offering of Common Stock.
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, announced that it has closed the previously announced registered direct offering for the sale of an aggregate of 3,000,000 shares of its common stock for gross proceeds of approximately $23 million, prior to deducting placement agent’s fees and other offering expenses payable by Ocugen.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Over the last 12 months, OCGN stock rose by 1736.04%. The one-year Ocugen Inc. stock forecast points to a potential downside of -55.05. The average equity rating for OCGN stock is currently 2.20, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.06 billion, with 187.05 million shares outstanding and 155.85 million shares in the current float. Compared to the average trading volume of 83.16M shares, OCGN stock reached a trading volume of 34208576 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ocugen Inc. [OCGN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCGN shares is $6.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCGN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 09, 2021. The new note on the price target was released on February 04, 2021, representing the official price target for Ocugen Inc. stock.
The Average True Range (ATR) for Ocugen Inc. is set at 2.02, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 48233.03. The Price to Book ratio for the last quarter was 102.80, with the Price to Cash per share for the same quarter was set at 0.10.
OCGN Stock Performance Analysis:
Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 95.81. With this latest performance, OCGN shares gained by 311.20% in over the last four-week period, additionally plugging by 1550.08% over the last 6 months – not to mention a rise of 1736.04% 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 65.12, with the RSI for the last a single of trading hit 63.84, and the three-weeks RSI is set at 65.64 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 2.75, while it was recorded at 11.99 for the last single week of trading, and 0.94 for the last 200 days.
Insight into Ocugen Inc. 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.
OCGN Stock EPS
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.
Ocugen Inc. [OCGN] Insider Position Details
There are presently around $141 million, or 6.00% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 9,074,993, which is approximately 22.016% of the company’s market cap and around 3.26% of the total institutional ownership; BLACKROCK INC., holding 2,225,674 shares of the stock with an approximate value of $22.88 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $12.51 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.
25 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,067,151 shares. Additionally, 10 investors decreased positions by around 3,710,663 shares, while 2 investors held positions by with 6,917,276 shares. The mentioned changes placed institutional holdings at 13,695,090 shares, according to the latest SEC report filing. OCGN stock had 18 new institutional investments in for a total of 561,447 shares, while 5 institutional investors sold positions of 563,771 shares during the same period.