Ocugen Inc. [OCGN] moved up 4.00: Why It’s Important

Ocugen Inc. [NASDAQ: OCGN] price surged by 4.00 percent to reach at $0.07. The company report on September 16, 2022 that Ocugen Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).


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Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the Compensation Committee of the Board of Directors of Ocugen approved the grant of stock options to purchase an aggregate of 148,800 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 40,092 shares of common stock to five newly hired team members. The stock options and RSUs were granted as of September 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 $2.17 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.

A sum of 5987514 shares traded at recent session while its average daily volume was at 5.22M shares. Ocugen Inc. shares reached a high of $1.86 and dropped to a low of $1.775 until finishing in the latest session at $1.82.

The one-year OCGN stock forecast points to a potential upside of 74.0. The average equity rating for OCGN stock is currently 2.20, 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 $7.00 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.

Mizuho have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 23, 2022. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on June 15, 2022, representing the official price target for Ocugen Inc. stock. Previously, the target price had yet another raise to $4.50, while Cantor Fitzgerald analysts kept a Overweight rating on OCGN stock.

The Average True Range (ATR) for Ocugen Inc. is set at 0.16 The Price to Book ratio for the last quarter was 3.43, with the Price to Cash per share for the same quarter was set at 0.52.

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 -12.50. With this latest performance, OCGN shares dropped by -31.06% in over the last four-week period, additionally sinking by -45.67% over the last 6 months – not to mention a drop of -76.27% 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 32.82, with the RSI for the last a single of trading hit 28.49, and the three-weeks RSI is set at 36.75 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 2.4838, while it was recorded at 1.8260 for the last single week of trading, and 2.9785 for the last 200 days.

Insight into Ocugen Inc. Fundamentals:

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.90 and a Current Ratio set at 11.90.

Ocugen Inc. [OCGN] Insider Position Details

There are presently around $155 million, or 39.70% 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 $25.07 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $20.78 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 9,906,628 shares. Additionally, 53 investors decreased positions by around 9,043,174 shares, while 23 investors held positions by with 66,213,556 shares. The mentioned changes placed institutional holdings at 85,163,358 shares, according to the latest SEC report filing. OCGN stock had 24 new institutional investments in for a total of 1,877,410 shares, while 21 institutional investors sold positions of 3,326,337 shares during the same period.

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