Ocugen Inc. [NASDAQ: OCGN] price plunged by -7.41 percent to reach at -$0.16. The company report on May 6, 2022 that Ocugen Provides Business Update and First Quarter 2022 Financial Results.
Conference Call and Webcast Today at 8:30 a.m. ET.
OCU400 Phase 1/2 clinical trial for groundbreaking modifier gene therapy for the treatment of NR2E3 and RHO-related retinitis pigmentosa is advancing after DSMB review.
A sum of 9815258 shares traded at recent session while its average daily volume was at 10.81M shares. Ocugen Inc. shares reached a high of $2.115 and dropped to a low of $1.94 until finishing in the latest session at $2.00.
The one-year OCGN stock forecast points to a potential upside of 75.37. The average equity rating for OCGN stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $8.12 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 0.23 The Price to Book ratio for the last quarter was 4.17, with the Price to Cash per share for the same quarter was set at 0.42.
OCGN Stock Performance Analysis:
Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.53. With this latest performance, OCGN shares dropped by -34.43% in over the last four-week period, additionally sinking by -80.47% over the last 6 months – not to mention a drop of -80.33% 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 33.23, with the RSI for the last a single of trading hit 29.44, and the three-weeks RSI is set at 36.31 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 2.89, while it was recorded at 2.27 for the last single week of trading, and 5.63 for the last 200 days.
Insight into Ocugen Inc. 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.
Ocugen Inc. [OCGN] Insider Position Details
There are presently around $138 million, or 37.40% 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 0.50% of the total institutional ownership; BLACKROCK INC., holding 12,931,131 shares of the stock with an approximate value of $27.93 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $22.91 million in OCGN stock with ownership of nearly -2.468% of the company’s market capitalization.
75 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 11,916,635 shares. Additionally, 42 investors decreased positions by around 3,085,432 shares, while 21 investors held positions by with 48,968,118 shares. The mentioned changes placed institutional holdings at 63,970,185 shares, according to the latest SEC report filing. OCGN stock had 32 new institutional investments in for a total of 2,637,389 shares, while 17 institutional investors sold positions of 1,974,598 shares during the same period.