Ocugen Inc. [OCGN] Is Currently -8.44 below its 200 Period Moving Avg: What Does This Mean?


Ocugen Inc. [NASDAQ: OCGN] loss -8.44% on the last trading session, reaching $2.17 price per share at the time. The company report on May 24, 2022 that Ocugen Announces New Cell Therapy Program Following FDA Regenerative Medicine Advanced Therapy (RMAT) Recognition.

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NeoCart® (autologous chondrocyte-derived neocartilage) receives regulatory designation intended to help expedite development of new regenerative medicines.

Ocugen, Inc. (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals, and vaccines, today announced that it is diversifying its innovative pipeline by introducing a Phase 3, cell therapy platform technology called NeoCart® (autologous chondrocyte-derived neocartilage). Recently, the U.S. Food and Drug Administration (FDA) granted a Regenerative Medicine Advanced Therapy (RMAT) designation to NeoCart® for the repair of full-thickness lesions of the knee cartilage in adults.

Ocugen Inc. represents 205.69 million in outstanding shares, while the company has a total market value of $432.72 million with the latest information. OCGN stock price has been found in the range of $2.15 to $2.39.

If compared to the average trading volume of 9.01M shares, OCGN reached a trading volume of 5797593 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 $7.38 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 0.22 The Price to Book ratio for the last quarter was 3.39, with the Price to Cash per share for the same quarter was set at 0.65.

Trading performance analysis for OCGN stock

Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.33. With this latest performance, OCGN shares dropped by -7.26% in over the last four-week period, additionally sinking by -65.77% over the last 6 months – not to mention a drop of -77.05% 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 45.88, with the RSI for the last a single of trading hit 46.88, and the three-weeks RSI is set at 44.86 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 2.63, while it was recorded at 2.26 for the last single week of trading, and 5.21 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 18.00 and a Current Ratio set at 18.00.

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

There are presently around $200 million, or 39.80% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: STATE STREET CORP with ownership of 29,153,704, which is approximately 107.979% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 12,163,387 shares of the stock with an approximate value of $28.83 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $25.85 million in OCGN stock with ownership of nearly 2.839% of the company’s market capitalization.

60 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 25,559,186 shares. Additionally, 60 investors decreased positions by around 5,073,384 shares, while 22 investors held positions by with 53,789,291 shares. The mentioned changes placed institutional holdings at 84,421,861 shares, according to the latest SEC report filing. OCGN stock had 21 new institutional investments in for a total of 549,966 shares, while 25 institutional investors sold positions of 1,547,098 shares during the same period.