Ocean Biomedical Inc. [NASDAQ: OCEA] surged by $5.99 during the normal trading session on Thursday and reaching a high of $26.6015 during the day while it closed the day at $10.80. The company report on February 23, 2023 that Ocean Biomedical (NASDAQ: OCEA) Celebrates Discovery of Bispecific Antibodies and Immune Checkpoint Inhibitors That Kill Glioblastoma Cells and Melanoma Cells, and Block the Metastasis of Malignant Melanoma Cells to the Lung by Over 90%.
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Ocean Biomedical Inc. stock has also gained 79.10% of its value over the past 7 days. However, OCEA stock has inclined by 5.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 6.98% and gained 3.85% year-on date.
The market cap for OCEA stock reached $194.29 million, with 13.22 million shares outstanding and 9.57 million shares in the current float. Compared to the average trading volume of 320.09K shares, OCEA reached a trading volume of 28444066 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Ocean Biomedical Inc. [OCEA]:
The Average True Range (ATR) for Ocean Biomedical Inc. is set at 3.28 The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.03.
OCEA stock trade performance evaluation
Ocean Biomedical Inc. [OCEA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 79.10. With this latest performance, OCEA shares gained by 2.96% in over the last four-week period, additionally plugging by 6.98% over the last 6 months.
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 OCEA stock in for the last two-week period is set at 57.01, with the RSI for the last a single of trading hit 61.15, and the three-weeks RSI is set at 54.98 for Ocean Biomedical Inc. [OCEA]. The present Moving Average for the last 50 days of trading for this stock 9.82, while it was recorded at 5.67 for the last single week of trading.
Ocean Biomedical Inc. [OCEA]: An insightful look at the core fundamentals
Ocean Biomedical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Ocean Biomedical Inc. [OCEA]: Insider Ownership positions
There are presently around $114 million, or 99.30% of OCEA stock, in the hands of institutional investors. The top three institutional holders of OCEA stocks are: POLAR ASSET MANAGEMENT PARTNERS INC. with ownership of 825,000, which is approximately 0% of the company’s market cap and around 9.67% of the total institutional ownership; SHAOLIN CAPITAL MANAGEMENT LLC, holding 796,900 shares of the stock with an approximate value of $8.61 million in OCEA stocks shares; and SABA CAPITAL MANAGEMENT, L.P., currently with $7.93 million in OCEA stock with ownership of nearly 0% of the company’s market capitalization.
7 institutional holders increased their position in Ocean Biomedical Inc. [NASDAQ:OCEA] by around 323,950 shares. Additionally, 8 investors decreased positions by around 247,301 shares, while 31 investors held positions by with 9,961,717 shares. The mentioned changes placed institutional holdings at 10,532,968 shares, according to the latest SEC report filing. OCEA stock had 5 new institutional investments in for a total of 280,171 shares, while 2 institutional investors sold positions of 65,742 shares during the same period.