Ocugen Inc. [NASDAQ: OCGN] jumped around 0.71 points on Friday, while shares priced at $12.67 at the close of the session, up 5.94%. The company report on April 28, 2021 that Ocugen Inc. Announces Closing of $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 closed the previously announced registered direct offering 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.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Roth Capital Partners acted as financial advisor to Ocugen.
Ocugen Inc. stock is now 592.35% up from its year-to-date (YTD) trading value. OCGN Stock saw the intraday high of $13.37 and lowest of $11.39 per share. The company’s 52-week high price is 18.77, which means current price is +805.00% above from all time high which was touched on 02/08/21.
Compared to the average trading volume of 79.67M shares, OCGN reached a trading volume of 164400928 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 1.44, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 55608.87. The Price to Book ratio for the last quarter was 97.46, 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 31.57. With this latest performance, OCGN shares gained by 86.60% in over the last four-week period, additionally plugging by 4273.49% over the last 6 months – not to mention a rise of 3947.92% 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 74.42, with the RSI for the last a single of trading hit 81.56, and the three-weeks RSI is set at 68.80 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.45, while it was recorded at 11.82 for the last single week of trading, and 3.14 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 $185 million, or 7.60% 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 2.54% of the total institutional ownership; BLACKROCK INC., holding 2,225,674 shares of the stock with an approximate value of $28.2 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $15.41 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.
41 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,914,367 shares. Additionally, 11 investors decreased positions by around 3,187,865 shares, while 5 investors held positions by with 7,488,179 shares. The mentioned changes placed institutional holdings at 14,590,411 shares, according to the latest SEC report filing. OCGN stock had 32 new institutional investments in for a total of 1,359,402 shares, while 5 institutional investors sold positions of 39,173 shares during the same period.