compared to its average ratio and a 36-month beta value of 3.90.
The public float for OCGN is 252.54M, and currently, short sellers hold a 10.11% ratio of that float. The average trading volume of OCGN on September 18, 2023 was 4.92M shares.
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OCGN) stock’s latest price update
Ocugen Inc. (NASDAQ: OCGN)’s stock price has plunge by -2.37relation to previous closing price of 0.41. Nevertheless, the company has seen a -4.88% plunge in its stock price over the last five trading sessions. GlobeNewsWire reported 2023-08-18 that MALVERN, Pa., Aug. 18, 2023 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, today announced that it will host a conference call and live webcast to discuss the Company’s second quarter 2023 financial results and provide a business update at 8:30 a.m. ET on Tuesday, August 22, 2023.
OCGN’s Market Performance
Ocugen Inc. (OCGN) has experienced a -4.88% fall in stock performance for the past week, with a -9.02% drop in the past month, and a -22.22% drop in the past quarter. The volatility ratio for the week is 5.59%, and the volatility levels for the past 30 days are at 6.31% for OCGN. The simple moving average for the last 20 days is -8.70% for OCGN stock, with a simple moving average of -52.00% for the last 200 days.
Analysts’ Opinion of OCGN
Many brokerage firms have already submitted their reports for OCGN stocks, with Chardan Capital Markets repeating the rating for OCGN by listing it as a “Buy.” The predicted price for OCGN in the upcoming period, according to Chardan Capital Markets is $3.50 based on the research report published on March 01, 2023 of the current year 2023.
OCGN Trading at -21.51% from the 50-Day Moving Average
After a stumble in the market that brought OCGN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -82.78% of loss for the given period.
Volatility was left at 6.31%, however, over the last 30 days, the volatility rate increased by 5.59%, as shares sank -9.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -28.57% lower at present.
During the last 5 trading sessions, OCGN fell by -4.76%, which changed the moving average for the period of 200-days by -72.79% in comparison to the 20-day moving average, which settled at $0.4355. In addition, Ocugen Inc. saw -69.27% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OCGN starting from Zhang Junge, who purchase 200,278 shares at the price of $0.50 back on Jun 14. After this action, Zhang Junge now owns 1,077,182 shares of Ocugen Inc., valued at $99,999 using the latest closing price.
Musunuri Shankar, the Chief Executive Officer of Ocugen Inc., sale 100,000 shares at $1.08 during a trade that took place back on Feb 16, which means that Musunuri Shankar is holding 2,190,073 shares at $108,000 based on the most recent closing price.
Stock Fundamentals for OCGN
Equity return is now at value -102.40, with -81.20 for asset returns.
Conclusion
To put it simply, Ocugen Inc. (OCGN) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
