Saturday, April 10, 2021

Ocugen Inc. [OCGN] Revenue clocked in at $0.04 million, up 246.99% YTD: What’s Next?

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Ocugen Inc. [NASDAQ: OCGN] stock went on a downward path that fall over -3.35% on Tuesday, amounting to a one-week price decrease of less than -2.31%. The company report on March 29, 2021 that Ocugen Inc. to Participate in a Cantor Fitzgerald Fireside Chat to Discuss COVAXIN COVID-19 Vaccine Development.

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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 it will present at a virtual Fireside Chat hosted by Cantor Fitzgerald and Kristen Kluska, Biotechnology Analyst, on March 31, 2021 from 10:00 a.m. – 11:00 a.m. ET.


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Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder of Ocugen will participate along with members of the Ocugen Vaccine Scientific Advisory Board to discuss COVAXIN COVID-19 vaccine development. Topics will include:.

Over the last 12 months, OCGN stock rose by 2167.86%. The one-year Ocugen Inc. stock forecast points to a potential upside of 29.44. 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 $1.21 billion, with 188.09 million shares outstanding and 181.84 million shares in the current float. Compared to the average trading volume of 58.89M shares, OCGN stock reached a trading volume of 10244676 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 $9.00 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 1.12, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 28399.19. The Price to Book ratio for the last quarter was 48.85, with the Price to Cash per share for the same quarter was set at 0.13.

OCGN Stock Performance Analysis:

Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.31. With this latest performance, OCGN shares dropped by -27.35% in over the last four-week period, additionally plugging by 1955.02% over the last 6 months – not to mention a rise of 2167.86% 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 39.23, with the RSI for the last a single of trading hit 30.71, and the three-weeks RSI is set at 44.53 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 7.81, while it was recorded at 6.63 for the last single week of trading, and 2.41 for the last 200 days.

Insight into Ocugen Inc. Fundamentals:

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.20.

OCGN Stock EPS

With the latest financial reports released by the company, Ocugen Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. 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 $92 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 2.86% of the total institutional ownership; BLACKROCK INC., holding 2,225,674 shares of the stock with an approximate value of $14.13 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $7.72 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 3,901,554 shares. Additionally, 9 investors decreased positions by around 3,189,065 shares, while 2 investors held positions by with 7,440,070 shares. The mentioned changes placed institutional holdings at 14,530,689 shares, according to the latest SEC report filing. OCGN stock had 28 new institutional investments in for a total of 1,348,214 shares, while 4 institutional investors sold positions of 42,173 shares during the same period.

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