The stock price of Ocugen Inc (NASDAQ: OCGN) has surged by 2.75 when compared to previous closing price of 0.86, but the company has seen a -0.92% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-12-11 that MALVERN, Pa., Dec. 11, 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, biologics, and vaccines, today announced that Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder of Ocugen will present at the Oppenheimer Movers in Rare Disease Summit at the Westin Grand Central, New York on Thursday, December 12, 2024.
Is It Worth Investing in Ocugen Inc (NASDAQ: OCGN) Right Now?
OCGN has 36-month beta value of 3.83. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for OCGN is 287.13M, and currently, short sellers hold a 19.85% ratio of that float. The average trading volume of OCGN on December 16, 2024 was 3.75M shares.
OCGN’s Market Performance
OCGN’s stock has seen a -0.92% decrease for the week, with a -11.90% drop in the past month and a -21.34% fall in the past quarter. The volatility ratio for the week is 6.95%, and the volatility levels for the past 30 days are at 6.82% for Ocugen Inc The simple moving average for the last 20 days is -2.10% for OCGN stock, with a simple moving average of -32.16% for the last 200 days.
Analysts’ Opinion of OCGN
Many brokerage firms have already submitted their reports for OCGN stocks, with Maxim Group repeating the rating for OCGN by listing it as a “Buy.” The predicted price for OCGN in the upcoming period, according to Maxim Group is $4 based on the research report published on October 15, 2024 of the current year 2024.
Chardan Capital Markets, on the other hand, stated in their research note that they expect to see OCGN reach a price target of $3.50. The rating they have provided for OCGN stocks is “Buy” according to the report published on March 01st, 2023.
Mizuho gave a rating of “Buy” to OCGN, setting the target price at $5 in the report published on August 23rd of the previous year.
OCGN Trading at -6.06% 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 -58.15% of loss for the given period.
Volatility was left at 6.82%, however, over the last 30 days, the volatility rate increased by 6.95%, as shares sank -7.19% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.75% lower at present.
During the last 5 trading sessions, OCGN fell by -2.04%, which changed the moving average for the period of 200-days by -9.26% in comparison to the 20-day moving average, which settled at $0.8994. In addition, Ocugen Inc saw 53.22% 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 Fernandes Prabhavathi, who purchase 10,000 shares at the price of $0.91 back on Nov 26 ’24. After this action, Fernandes Prabhavathi now owns 10,000 shares of Ocugen Inc, valued at $9,095 using the latest closing price.
Castillo Kirsten, the Director of Ocugen Inc, purchase 25,000 shares at $0.91 during a trade that took place back on Nov 22 ’24, which means that Castillo Kirsten is holding 75,000 shares at $22,848 based on the most recent closing price.
Stock Fundamentals for OCGN
Current profitability levels for the company are sitting at:
- -5.31 for the present operating margin
- 0.01 for the gross margin
The net margin for Ocugen Inc stands at -5.33. The total capital return value is set at -1.07. Equity return is now at value -103.30, with -74.87 for asset returns.
Based on Ocugen Inc (OCGN), the company’s capital structure generated 0.07 points at debt to capital in total, while cash flow to debt ratio is standing at -14.92. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is -39.54.
Currently, EBITDA for the company is -64.83 million with net debt to EBITDA at 0.66. When we switch over and look at the enterprise to sales, we see a ratio of 24.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.58.
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.
