Ocugen Inc. [OCGN] gain 498.36% so far this year. What now?

Ocugen Inc. [NASDAQ: OCGN] gained 36.87% or 2.95 points to close at $10.95 with a heavy trading volume of 95877408 shares. The company report on February 23, 2021 that European Commission Grants Ocugen Orphan Medicinal Product Designation for Gene Therapy Product Candidate, OCU400, For the Treatment of Both Retinitis Pigmentosa and Leber Congenital Amaurosis.

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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 save lives from COVID-19, announced that on the recommendation of the European Medicines Agency (EMA), the European Commission has granted orphan medicinal product designation for OCU400 (AAV5-hNR2E3), for the treatment of both retinitis pigmentosa (RP) and Leber Congenital amaurosis (LCA).

The prevalence of RP in Europe is estimated at approximately 165,000 patients and the prevalence of LCA in Europe is estimated at approximately 40,000 patients. Globally, the number of people suffering from RP and LCA is estimated to be around 2.0 million and 0.2 million, respectively.

It opened the trading session at $8.05, the shares rose to $11.95 and dropped to $7.62, the range by which the price of stock traded the whole day. The daily chart for OCGN points out that the company has recorded 2538.55% gains over the past six months. However, it is still -6341.18% lower than its most recent low trading price.

If we look at the average trading volume of 85.43M shares, OCGN reached to a volume of 95877408 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $6.88 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 1.93, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 35295.89. The Price to Book ratio for the last quarter was 109.50, with the Price to Cash per share for the same quarter was set at 0.14.

Trading performance analysis for OCGN stock

Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.62. With this latest performance, OCGN shares gained by 559.64% in over the last four-week period, additionally plugging by 2538.55% over the last 6 months – not to mention a rise of 2562.29% 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 62.41, with the RSI for the last a single of trading hit 62.27, and the three-weeks RSI is set at 62.76 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 4.45, while it was recorded at 9.13 for the last single week of trading, and 1.36 for the last 200 days.

Ocugen Inc. [OCGN]: A deeper dive into fundamental analysis

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 4.80.

Ocugen Inc. [OCGN]: An earnings per share (EPS) analysis

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.

An analysis of insider ownership at Ocugen Inc. [OCGN]

There are presently around $159 million, or 7.70% 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 $24.37 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $13.32 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.

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35 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,893,879 shares. Additionally, 8 investors decreased positions by around 3,188,940 shares, while 2 investors held positions by with 7,440,195 shares. The mentioned changes placed institutional holdings at 14,523,014 shares, according to the latest SEC report filing. OCGN stock had 28 new institutional investments in for a total of 1,340,539 shares, while 3 institutional investors sold positions of 42,048 shares during the same period.

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