Ocugen Inc. [NASDAQ: OCGN] traded at a high on 03/18/22, posting a 13.07 gain after which it closed the day’ session at $3.72. The company report on March 18, 2022 that Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).
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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, today announced the Compensation Committee of the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 331,155 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 90,232 shares of common stock to nine newly hired team members. The stock options and RSUs were granted as of March 16, 2022, as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have a ten-year term and have an exercise price of $2.87 per share, which was the closing price of Ocugen’s common stock on the grant date. The stock options and RSUs vest in equal annual installments over a three-year period starting on the one-year anniversary of the grant date, subject to the applicable new employee’s continued service with Ocugen through the applicable vesting dates. The stock options and RSUs were granted outside of Ocugen’s 2019 Equity Incentive Plan.
The results of the trading session contributed to over 41311812 shares changing hands. Over the past one week, the price volatility of Ocugen Inc. stands at 15.51% while the volatility over the past one month is 12.20%.
The market cap for OCGN stock reached $706.99 million, with 199.25 million shares outstanding and 195.14 million shares in the current float. Compared to the average trading volume of 12.92M shares, OCGN reached a trading volume of 41311812 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 $8.38 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 2.50. 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 0.39 The Price to Book ratio for the last quarter was 7.75, with the Price to Cash per share for the same quarter was set at 0.50.
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 51.84. With this latest performance, OCGN shares dropped by -2.62% in over the last four-week period, additionally sinking by -53.09% over the last 6 months – not to mention a drop of -58.30% 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 58.21, with the RSI for the last a single of trading hit 66.40, and the three-weeks RSI is set at 53.16 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 3.45, while it was recorded at 2.99 for the last single week of trading, and 6.43 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 14.70 and a Current Ratio set at 14.70.
Insider trade positions for Ocugen Inc. [OCGN]
There are presently around $238 million, or 30.40% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: STATE STREET CORP with ownership of 14,017,619, which is approximately 23.858% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 12,931,131 shares of the stock with an approximate value of $48.1 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $39.45 million in OCGN stock with ownership of nearly -2.468% of the company’s market capitalization.
70 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 11,988,007 shares. Additionally, 61 investors decreased positions by around 3,143,488 shares, while 18 investors held positions by with 48,788,683 shares. The mentioned changes placed institutional holdings at 63,920,178 shares, according to the latest SEC report filing. OCGN stock had 34 new institutional investments in for a total of 2,843,895 shares, while 28 institutional investors sold positions of 1,995,743 shares during the same period.