Ocugen Inc [NASDAQ: OCGN] surged by $0.32 during the normal trading session on while it closed the day at $1.83. The company report on April 5, 2024 at 7:02 AM that Ocugen Announces Positive Data and Safety Monitoring Board Review and Initiation of Enrollment in Medium Dose for OCU410—a Modifier Gene Therapy—in Phase 1/2 ArMaDa Study for Geographic Atrophy.
Established Low Dose as Safe and Tolerable Dose in Current OCU410 Clinical Trial.
Ocugen Inc stock has also gained 11.59% of its value over the past 7 days. However, OCGN stock has inclined by 180.29% in the 3 months of the year. Over the past six months meanwhile, it has gained 351.85% and gained 218.26% year-on date.
The market cap for OCGN stock reached $469.40 million, with 256.50 million shares outstanding and 250.87 million shares in the current float. Compared to the average trading volume of 7.80M shares, OCGN reached a trading volume of 20536216 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 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 $7.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCGN 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.
Chardan Capital Markets have made an estimate for Ocugen Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 01, 2023. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on August 23, 2022, representing the official price target for Ocugen Inc stock. Previously, the target price had yet another raise to $8, while ROTH Capital analysts kept a Buy rating on OCGN stock.
The Average True Range (ATR) for Ocugen Inc is set at 0.21 The Price to Book ratio for the last quarter was 8.04, with the Price to Cash per share for the same quarter was set at 0.21.
OCGN stock trade performance evaluation
Ocugen Inc [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.59. With this latest performance, OCGN shares gained by 110.34% in over the last four-week period, additionally plugging by 351.85% over the last 6 months – not to mention a rise of 124.54% 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 68.76, with the RSI for the last a single of trading hit 69.59, and the three-weeks RSI is set at 68.28 for Ocugen Inc [OCGN]. The present Moving Average for the last 50 days of trading for this stock 0.9887, while it was recorded at 1.5530 for the last single week of trading, and 0.5977 for the last 200 days.
Ocugen Inc [OCGN]: An insightful look at the core fundamentals
Ocugen Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.08 and a Current Ratio set at 5.08.
Earnings per share (EPS) analysis for Ocugen Inc [OCGN] stock
With the latest financial reports released by the company, Ocugen Inc posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCGN.
Ocugen Inc [OCGN]: Institutional Ownership
The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in OCGN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in OCGN stock with ownership which is approximately 5.8386%.
