Ocugen Inc (NASDAQ: OCGN)’s stock price has soared by 1.92 in relation to previous closing price of 1.30. Nevertheless, the company has seen a gain of 2.71% in its stock price over the last five trading days. globenewswire.com reported 2024-08-26 that MALVERN, Pa., Aug. 26, 2024 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that Health Canada provided a “No Objection Letter” to initiate the OCU400 Phase 3 liMeliGhT (pronounced “limelight”) clinical trial in Canada. OCU400 is a modifier gene therapy product candidate being developed for retinitis pigmentosa (RP).
Is It Worth Investing in Ocugen Inc (NASDAQ: OCGN) Right Now?
OCGN has 36-month beta value of 3.71. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for OCGN is 283.03M, and currently, short sellers hold a 22.62% ratio of that float. The average trading volume of OCGN on August 26, 2024 was 5.60M shares.
OCGN’s Market Performance
OCGN stock saw a decrease of 2.71% in the past week, with a monthly decline of -19.21% and a quarterly a decrease of -24.29%. The volatility ratio for the week is 6.50%, and the volatility levels for the last 30 days are 8.31% for Ocugen Inc (OCGN). The simple moving average for the past 20 days is 2.44% for OCGN’s stock, with a 18.90% simple moving average for the past 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 previous year 2023.
Mizuho, on the other hand, stated in their research note that they expect to see OCGN reach a price target of $5. The rating they have provided for OCGN stocks is “Buy” according to the report published on August 23rd, 2022.
ROTH Capital gave a rating of “Buy” to OCGN, setting the target price at $8 in the report published on June 15th of the previous year.
OCGN Trading at -10.11% 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 -37.05% of loss for the given period.
Volatility was left at 8.31%, however, over the last 30 days, the volatility rate increased by 6.50%, as shares sank -11.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.14% lower at present.
During the last 5 trading sessions, OCGN rose by +1.16%, which changed the moving average for the period of 200-days by +243.78% in comparison to the 20-day moving average, which settled at $1.2847. In addition, Ocugen Inc saw 130.43% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OCGN starting from RAMESH KUMAR, who proposed sale 116,705 shares at the price of $1.25 back on Aug 16 ’24. After this action, RAMESH KUMAR now owns shares of Ocugen Inc, valued at $145,905 using the latest closing price.
Stock Fundamentals for OCGN
Current profitability levels for the company are sitting at:
- -6.31 for the present operating margin
- 0.86 for the gross margin
The net margin for Ocugen Inc stands at -6.21. The total capital return value is set at -2.29. Equity return is now at value -120.03, with -80.82 for asset returns.
Based on Ocugen Inc (OCGN), the company’s capital structure generated 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at -13.71.
Currently, EBITDA for the company is -64.83 million with net debt to EBITDA at 0.17. When we switch over and look at the enterprise to sales, we see a ratio of 45.64. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.04.
Conclusion
To put it simply, Ocugen Inc (OCGN) has had a mixed performance in recent times. Analysts have a bullish 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.
