The price of Ocugen Inc. (NASDAQ:OCGN) shares last traded on Wall Street fell -5.56% to $0.69.
Based on available information, 6 analysts follow Ocugen Inc. (NASDAQ:OCGN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $2.50, we find $4.50. Given the previous closing price of $0.73, this indicates a potential upside of 516.44 percent. OCGN stock price is now -15.61% away from the 50-day moving average and -53.43% away from the 200-day moving average. The market capitalization of the company currently stands at $162.64M.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Among analysts, 0 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $4.58 as their price target over the next twelve months.
With the price target maintained at $3.50, Chardan Capital Markets recently Upgraded its rating from Neutral to Buy for Ocugen Inc. (NASDAQ: OCGN). On August 23, 2022, Mizuho recently initiated its ‘Buy’ rating on the stock quoting a target price of $5, while ‘ROTH Capital’ rates the stock as ‘Buy’.
In other news, Musunuri Shankar, Chief Executive Officer sold 100,000 shares of the company’s stock on Feb 16. The stock was sold for $108,000 at an average price of $1.08. Upon completion of the transaction, the Chief Executive Officer now directly owns 2,190,073 shares in the company, valued at $1.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 17, Chief Executive Officer Musunuri Shankar sold 100,000 shares of the business’s stock. A total of $128,000 was realized by selling the stock at an average price of $1.28. This leaves the insider owning 2,227,950 shares of the company worth $1.54 million. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OCGN stock. A new stake in Ocugen Inc. shares was purchased by ERGOTELES LLC during the first quarter worth $1,051,000. MILLENNIUM MANAGEMENT LLC invested $879,000 in shares of OCGN during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Ocugen Inc. valued at approximately $698,000. CENTIVA CAPITAL, LP acquired a new stake in OCGN for approximately $165,000. Y-INTERCEPT (HONG KONG) LTD purchased a new stake in OCGN valued at around $154,000 in the second quarter. In total, there are 161 active investors with 37.90% ownership of the company’s stock.
A candlestick chart of Ocugen Inc. (NASDAQ: OCGN) showed a price of $0.7000 on Tuesday morning. During the past 12 months, Ocugen Inc. has had a low of $0.66 and a high of $3.11. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 5.40, and a quick ratio of 5.40. The fifty day moving average price for OCGN is $0.8157 and a two-hundred day moving average price translates $1.4792 for the stock.
The latest earnings results from Ocugen Inc. (NASDAQ: OCGN) was released for Mar, 2023.
Ocugen Inc.(OCGN) Company Profile
Ocugen, Inc., a clinical-stage biopharmaceutical company, focuses on the developing gene therapies to cure blindness diseases. The company’s pipeline product includes OCU400, a novel gene therapy product candidate restoring retinal integrity and function across a range of genetically diverse inherited retinal diseases, such as retinitis pigmentosa and leber congenital amaurosis; OCU410 and OCU410ST for the treatment of dry age-related macular degeneration (AMD); and OCU200, a novel fusion protein that is in preclinical development stage for the treatment of diabetic macular edema, diabetic retinopathy, and wet AMD. It has a strategic partnership with CanSino Biologics Inc. for gene therapy co-development and manufacturing; and Bharat Biotech for the commercialization of COVAXIN in the United States market. The company is headquartered in Malvern, Pennsylvania.
Leave a Reply