Ocugen Inc. [NASDAQ: OCGN] jumped around 0.34 points on Friday, while shares priced at $9.63 at the close of the session, up 3.66%. The company report on April 24, 2021 that Ocugen Inc. Announces $100 Million Registered Direct Offering of Common Stock Priced at a Premium to Market.
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 has entered into definitive agreements with healthcare-focused institutional investors for the sale of an aggregate of 10 million shares of its common stock at a purchase price of $10 per share in a registered direct offering. The offering is expected to close on or about April 27, 2021, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Ocugen Inc. stock is now 426.23% up from its year-to-date (YTD) trading value. OCGN Stock saw the intraday high of $13.65 and lowest of $8.70 per share. The company’s 52-week high price is 18.77, which means current price is +587.86% above from all time high which was touched on 02/08/21.
Compared to the average trading volume of 69.44M shares, OCGN reached a trading volume of 504643520 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]?
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 1.23, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 40996.42. The Price to Book ratio for the last quarter was 74.08, with the Price to Cash per share for the same quarter was set at 0.13.
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 66.61. With this latest performance, OCGN shares gained by 29.78% in over the last four-week period, additionally plugging by 2957.14% over the last 6 months – not to mention a rise of 2891.61% 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 65.99, with the RSI for the last a single of trading hit 74.97, and the three-weeks RSI is set at 61.03 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.32, while it was recorded at 7.32 for the last single week of trading, and 2.85 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 7.20 and a Current Ratio set at 7.20.
Earnings analysis for Ocugen Inc. [OCGN]
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.
Insider trade positions for Ocugen Inc. [OCGN]
There are presently around $140 million, or 7.90% 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 $21.43 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $11.71 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.
35 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,884,315 shares. Additionally, 11 investors decreased positions by around 3,191,365 shares, while 5 investors held positions by with 7,473,924 shares. The mentioned changes placed institutional holdings at 14,549,604 shares, according to the latest SEC report filing. OCGN stock had 28 new institutional investments in for a total of 1,330,975 shares, while 5 institutional investors sold positions of 42,673 shares during the same period.