Ocean Biomedical Inc. [NASDAQ: OCEA] stock went on a downward path that fall over -6.54% on Friday, amounting to a one-week price decrease of less than -1.27%. The company report on December 5, 2023 at 8:15 AM that Ocean Biomedical, Inc. Announces Publication of Groundbreaking Breast Cancer Research Uncovering a New Tumor Suppression Pathway for Its Proprietary Anti-Chi3L1 Antibody.
Results published in the Journal Immunity share discovery of a new mechanism by which Chi3L1 regulates breast cancer development and progression.
Over the last 12 months, OCEA stock dropped by -91.00%. The one-year Ocean Biomedical Inc. stock forecast points to a potential upside of 97.08. The average equity rating for OCEA stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $18.50 million, with 10.60 million shares outstanding and 8.57 million shares in the current float. Compared to the average trading volume of 274.77K shares, OCEA stock reached a trading volume of 137992 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ocean Biomedical Inc. [OCEA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCEA shares is $18.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCEA stock is a recommendation set at 1.00. 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.
OCEA Stock Performance Analysis:
Ocean Biomedical Inc. [OCEA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.27. With this latest performance, OCEA shares dropped by -4.74% in over the last four-week period, additionally sinking by -87.01% over the last 6 months – not to mention a drop of -91.00% 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 OCEA stock in for the last two-week period is set at 40.94, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 37.77 for Ocean Biomedical Inc. [OCEA]. The present Moving Average for the last 50 days of trading for this stock 0.6002, while it was recorded at 0.5728 for the last single week of trading, and 3.1473 for the last 200 days.
Insight into Ocean Biomedical Inc. Fundamentals:
Ocean Biomedical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.08 and a Current Ratio set at 0.08.
Ocean Biomedical Inc. [OCEA] Institutonal Ownership Details
The top three institutional holders of OCEA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OCEA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OCEA stock with ownership which is approximately 5.8325%.
