Ocean Biomedical Inc. [NASDAQ: OCEA] jumped around 2.08 points on Monday, while shares priced at $4.08 at the close of the session, up 104.00%. The company report on February 29, 2024 at 8:01 AM that Ocean Biomedical (NASDAQ: OCEA) Announces Joint Venture Partner, Virion Therapeutics to Present Their First Clinical Study Data as an Accepted Late Breaker Presentation at 2024 APASL Global Liver Meeting.
The late breaker presentation will highlight the safety data observed, to date, in the ongoing Phase 1B clinical trial of VRON-0200. “This accepted abstract highlights Virion’s commitment to finding a functional cure for chronically HBV-infected patients – and the first-ever human data for a genetically encoded checkpoint modifier T cell vaccine of any kind. VRON-0200 is uniquely developed to stimulate a patient’s own immune response to the virus. Additionally, its mechanism of action and intramuscular administration were designed to limit safety issues for this novel therapy,” said Dr. Sue Currie, COO of Virion, and one of the study authors. “We look forward to sharing these late breaking clinical HBV data at APASL, one of the leading meetings on the treatment of liver diseases in the world.”.
Compared to the average trading volume of 3.97M shares, OCEA reached a trading volume of 81285580 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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.
How has OCEA stock performed recently?
Ocean Biomedical Inc. [OCEA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 113.61. With this latest performance, OCEA shares gained by 615.79% in over the last four-week period, additionally sinking by -9.53% over the last 6 months – not to mention a drop of -34.82% 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 89.11, with the RSI for the last a single of trading hit 90.66, and the three-weeks RSI is set at 86.93 for Ocean Biomedical Inc. [OCEA]. The present Moving Average for the last 50 days of trading for this stock 0.81, while it was recorded at 2.27 for the last single week of trading, and 2.93 for the last 200 days.
Ocean Biomedical Inc. [OCEA]: Deeper insight into the 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.
Insider trade positions for Ocean Biomedical Inc. [OCEA]
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%.
