Ocugen Inc. [OCGN] is -65.71% lower this YTD. Is it still time to buy?

Ocugen Inc. [NASDAQ: OCGN] gained 6.12% or 0.09 points to close at $1.56 with a heavy trading volume of 5379260 shares. The company report on November 28, 2022 that Ocugen to Present at 3rd Annual Dry AMD Therapeutics Summit.

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“I am very pleased that Dr. Upadhyay will share more about our Modifier Gene Therapy platform—a novel approach to treating retinal diseases—during the Dry AMD Summit,” said Dr. Shankar Musunuri, Chairman, CEO & Co-Founder of Ocugen. “Our candidate, OCU410, is being developed to utilize the nuclear hormone receptor gene RORA for the treatment of dry AMD and we plan to file an IND application to initiate Phase 1/2 clinical trials in Q2 2023. We are enthusiastic about the potential for OCU410 to address unmet medical need in this category.”.

It opened the trading session at $1.47, the shares rose to $1.56 and dropped to $1.44, the range by which the price of stock traded the whole day. The daily chart for OCGN points out that the company has recorded -28.11% loss over the past six months. However, it is still -8.33% lower than its most recent low trading price.

If we look at the average trading volume of 4.75M shares, OCGN reached to a volume of 5379260 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 $5.33 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 0.11 The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 0.46.

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 0.65. With this latest performance, OCGN shares dropped by -9.30% in over the last four-week period, additionally sinking by -28.11% over the last 6 months – not to mention a drop of -75.39% 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 45.58, with the RSI for the last a single of trading hit 47.45, and the three-weeks RSI is set at 44.56 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 1.6790, while it was recorded at 1.5100 for the last single week of trading, and 2.4063 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 7.20 and a Current Ratio set at 7.20.

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

There are presently around $128 million, or 37.90% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: STATE STREET CORP with ownership of 26,007,202, which is approximately -15.059% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 13,551,708 shares of the stock with an approximate value of $21.14 million in OCGN stocks shares; and VANGUARD GROUP INC, currently with $18.25 million in OCGN stock with ownership of nearly 2.485% of the company’s market capitalization.

62 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 6,776,202 shares. Additionally, 48 investors decreased positions by around 9,698,994 shares, while 28 investors held positions by with 65,767,828 shares. The mentioned changes placed institutional holdings at 82,243,024 shares, according to the latest SEC report filing. OCGN stock had 19 new institutional investments in for a total of 1,735,320 shares, while 14 institutional investors sold positions of 727,856 shares during the same period.


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