Ocugen Inc. [OCGN] is 214.75% higher this YTD. Is it still time to buy?

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Ocugen Inc. [NASDAQ: OCGN] loss -8.72% on the last trading session, reaching $5.76 price per share at the time. The company report on November 26, 2021 that Ocugen, Inc. Provides an Update on its Investigational New Drug Application with U.S. FDA to Initiate a Phase 3 Clinical Trial Evaluating COVID-19 Vaccine Candidate COVAXIN™ (BBV152).

Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics and vaccines, announced that the U.S. Food and Drug Administration (FDA) has issued a clinical hold on the Company’s Investigational New Drug application (IND) to evaluate the COVID-19 vaccine candidate, BBV152, known as COVAXIN™ outside the United States.


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The FDA plans to identify the specific deficiencies that are the basis for clinical hold and information on how to address those deficiencies. The Company expects to receive formal written communication with the additional information from the FDA and plans to work with the FDA in an effort to resolve its questions as promptly as possible.

Ocugen Inc. represents 198.79 million in outstanding shares, while the company has a total market value of $1.08 billion with the latest information. OCGN stock price has been found in the range of $5.65 to $6.40.

If compared to the average trading volume of 33.25M shares, OCGN reached a trading volume of 16641510 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 $8.88 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 2.60. 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 1.14, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 25315.89. The Price to Book ratio for the last quarter was 10.67, with the Price to Cash per share for the same quarter was set at 0.57.

Trading performance analysis for OCGN stock

Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.70. With this latest performance, OCGN shares dropped by -54.75% in over the last four-week period, additionally sinking by -44.08% over the last 6 months – not to mention a rise of 1802.87% 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 33.79, with the RSI for the last a single of trading hit 26.91, and the three-weeks RSI is set at 38.25 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.42, while it was recorded at 6.17 for the last single week of trading, and 8.15 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 18.20 and a Current Ratio set at 18.20.

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

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 -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -250.00%. 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.

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

There are presently around $318 million, or 28.00% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: BLACKROCK INC. with ownership of 12,905,686, which is approximately -0.257% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 11,317,516 shares of the stock with an approximate value of $65.19 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $62.63 million in OCGN stock with ownership of nearly 4.682% of the company’s market capitalization.

63 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 4,551,747 shares. Additionally, 57 investors decreased positions by around 5,978,389 shares, while 25 investors held positions by with 44,608,695 shares. The mentioned changes placed institutional holdings at 55,138,831 shares, according to the latest SEC report filing. OCGN stock had 21 new institutional investments in for a total of 284,208 shares, while 29 institutional investors sold positions of 936,635 shares during the same period.