Stocks of Ocugen Inc. (NASDAQ:OCGN) traded higher last session on Wall Street, down -1.10% to $0.44.
According to the data, Ocugen Inc. (NASDAQ:OCGN) has 2 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $4.00 and a low of $2.50, we find $3.25. Given the previous closing price of $0.44, this indicates a potential upside of 638.64 percent. OCGN stock price is now -18.91% away from the 50-day moving average and -54.08% away from the 200-day moving average. The market capitalization of the company currently stands at $113.94M.
A total of 0 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $3.25 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).
In other news, Zhang Junge, Director bought 200,278 shares of the company’s stock on Jun 14. The stock was bought for $99,999 at an average price of $0.50. Upon completion of the transaction, the Director now directly owns 1,077,182 shares in the company, valued at $0.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 16, Chief Executive Officer Musunuri Shankar sold 100,000 shares of the business’s stock. A total of $108,000 was realized by selling the stock at an average price of $1.08. This leaves the insider owning 2,190,073 shares of the company worth $0.96 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 LUMINUS MANAGEMENT LLC during the first quarter worth $1,791,000. GMT CAPITAL CORP invested $1,722,000 in shares of OCGN during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in Ocugen Inc. valued at approximately $1,098,000. D. E. SHAW & CO., INC. acquired a new stake in OCGN for approximately $480,000. JACOBS LEVY EQUITY MANAGEMENT, INC purchased a new stake in OCGN valued at around $475,000 in the second quarter. In total, there are 135 active investors with 37.90% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $0.4522 for Ocugen Inc. (NASDAQ: OCGN). During the past 12 months, Ocugen Inc. has had a low of $0.44 and a high of $2.93. 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 $0.5409 and a two-hundred day moving average price translates $0.9498 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.
