Ocugen Inc. [NASDAQ: OCGN] jumped around 1.13 points on Monday, while shares priced at $8.28 at the close of the session, up 15.80%. The company report on September 11, 2021 that OCUGEN INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Ocugen, Inc. – OCGN.
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Ocugen, Inc. (NasdaqCM: OCGN).
On June 10, 2021, the Company disclosed that it would pursue a “biologics license application” with the U.S. Food and Drug Administration for its COVID-19 vaccine candidate/product rather than the Emergency Use Authorization process that it had previously stated it would utilize.
Ocugen Inc. stock is now 352.46% up from its year-to-date (YTD) trading value. OCGN Stock saw the intraday high of $8.75 and lowest of $7.14 per share. The company’s 52-week high price is 18.77, which means current price is +491.43% above from all time high which was touched on 02/08/21.
Compared to the average trading volume of 19.18M shares, OCGN reached a trading volume of 76651658 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 $7.90 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 2.60. 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.
Noble Capital Markets have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 26, 2021. While these analysts kept the previous recommendation, ROTH Capital raised their target price from $10 to $6. The new note on the price target was released on June 11, 2021, representing the official price target for Ocugen Inc. stock. On February 09, 2021, analysts increased their price target for OCGN shares from 0.70 to 13.
The Average True Range (ATR) for Ocugen Inc. is set at 0.57, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 39746.72. The Price to Book ratio for the last quarter was 13.80, with the Price to Cash per share for the same quarter was set at 0.57.
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 11.44. With this latest performance, OCGN shares gained by 3.89% in over the last four-week period, additionally sinking by -16.36% over the last 6 months – not to mention a rise of 2493.17% 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 60.76, with the RSI for the last a single of trading hit 66.00, and the three-weeks RSI is set at 57.14 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 7.30, while it was recorded at 7.44 for the last single week of trading, and 6.64 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 25.10 and a Current Ratio set at 25.10.
Insider trade positions for Ocugen Inc. [OCGN]
There are presently around $469 million, or 28.80% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: BLACKROCK INC. with ownership of 12,938,916, which is approximately 278.058% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 10,855,970 shares of the stock with an approximate value of $89.89 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $86.01 million in OCGN stock with ownership of nearly 28.169% of the company’s market capitalization.
102 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 34,362,730 shares. Additionally, 33 investors decreased positions by around 2,254,989 shares, while 13 investors held positions by with 20,003,104 shares. The mentioned changes placed institutional holdings at 56,620,823 shares, according to the latest SEC report filing. OCGN stock had 70 new institutional investments in for a total of 9,794,542 shares, while 22 institutional investors sold positions of 1,250,826 shares during the same period.