Ocugen Inc. [NASDAQ: OCGN] loss -3.82% on the last trading session, reaching $2.77 price per share at the time. The company report on August 12, 2022 that Ocugen CEO to Present at H.C. Wainwright 2nd Annual Ophthalmology Virtual Conference.
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Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals, and vaccines, announced that Dr. Shankar Musunuri, Chairman, Chief Executive Officer and Co-Founder of Ocugen, will deliver a virtual presentation at the H.C. Wainwright 2nd Annual Ophthalmology Virtual Conference on August 17.
A video webcast of the presentation will be available on demand beginning at 7:00 a.m. ET on August 17, 2022 for those registered for the event and will be available on the events page of the Ocugen investor site. The webcast replay will be archived for 90 days following the event.
Ocugen Inc. represents 215.86 million in outstanding shares, while the company has a total market value of $566.10 million with the latest information. OCGN stock price has been found in the range of $2.72 to $2.88.
If compared to the average trading volume of 6.14M shares, OCGN reached a trading volume of 5390283 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 $7.60 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 2.20. 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.
ROTH Capital have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on June 02, 2022, representing the official price target for Ocugen Inc. stock. On June 11, 2021, analysts decreased their price target for OCGN shares from 10 to 6.
The Average True Range (ATR) for Ocugen Inc. is set at 0.21 The Price to Book ratio for the last quarter was 5.23, with the Price to Cash per share for the same quarter was set at 0.56.
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 3.75. With this latest performance, OCGN shares gained by 11.69% in over the last four-week period, additionally sinking by -23.90% over the last 6 months – not to mention a drop of -60.76% 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 53.48, with the RSI for the last a single of trading hit 52.80, and the three-weeks RSI is set at 53.29 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 2.53, while it was recorded at 2.80 for the last single week of trading, and 3.84 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 11.90 and a Current Ratio set at 11.90.
An analysis of insider ownership at Ocugen Inc. [OCGN]
There are presently around $236 million, or 39.40% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: STATE STREET CORP with ownership of 30,617,946, which is approximately 5.022% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 13,777,504 shares of the stock with an approximate value of $38.16 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $31.63 million in OCGN stock with ownership of nearly 4.687% of the company’s market capitalization.
65 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 9,901,286 shares. Additionally, 54 investors decreased positions by around 9,065,991 shares, while 21 investors held positions by with 66,187,691 shares. The mentioned changes placed institutional holdings at 85,154,968 shares, according to the latest SEC report filing. OCGN stock had 24 new institutional investments in for a total of 1,879,399 shares, while 22 institutional investors sold positions of 3,349,154 shares during the same period.