Musunuri Shankar Sells Ocugen Inc. (OCGN) Shares

The stock of Ocugen Inc. (NASDAQ:OCGN) decreased by -$0.02 on Monday to $2.21, down -0.90 percent. The last five days have seen an average of 6,507,735 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$2.34. The average number of shares traded over the last 20 days was 7,128,384, while the average volume over the last 50 days totaled 8,632,779.

OCGN stock dropped -9.35% since last month. On 05/12/22, the company’s shares reached a one-month low of $1.67. The stock touched a high of $17.65 on 01/03/22, after rallying from a low of $1.67 in 52 weeks. The price of OCGN stock has declined by -50.99% or -$2.34 this year, reaching a new high 1 time. Still, the stock price is down -87.48% from the 52-week high.


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Insider Transactions

There have been 10 days since Ocugen Inc. (OCGN) last reported insider trading activity on May 13. On May 13, Chief Executive Officer Musunuri Shankar sold 125,000 shares at $1.92 each. This transaction resulted in the insider making $240,000. On Apr 18, Kumar Ramesh sold 7,500 shares at a price of US$2.83. After the transaction, the insider now owns 0 shares. Chief Executive Officer Musunuri Shankar had earlier sold 81,823 shares on Mar 16 for $2.65 a share. The transaction was completed for $216,831.

Financial Health

For the three months ended March 30, Ocugen Inc.’s quick ratio was 18.00, while its current ratio was 18.00, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $58.03 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OCGN’s return on assets (ROA) during the last 12 months has been -56.80%. In the meantime, the return on equity (ROE) for the last 12 months was -61.50%.

Earnings Surprise

According to Ocugen Inc.’s quarterly financial report for the quarter that ended March 30. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Ocugen Inc.’s quarterly earnings would be -$0.09, but it ended up being $0. EBITDA was -$17.96 million for the quarter. At the end of Ocugen Inc.’s most recent quarter ended March 30, its liabilities totaled 10.6 million, while its total debt was $3.31 million. Equity owned by shareholders amounts to $215.66 million.

Technical Picture

Here’s a quick look at Ocugen Inc.’s (OCGN) price momentum from a technical perspective. As of 20 May, the RSI 9-day stood at 49.85%, suggesting the stock is Neutral, with a 127.57% historical volatility rate.

The stochastic %K and %D were 66.47% and 62.24% respectively, while the average true range (ATR) was 0.24. Based on the 14-day stochastic reading of 64.88%, the RSI (14) reading is 46.31%. On the 9-day MACD Oscillator, the stock is at 0.14, and the 14-day reading is at 0.09.

Analyst Ratings

In its analyst report released on July 26, 2021, Noble Capital Markets began covering Ocugen Inc. (NASDAQ: OCGN). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Ocugen Inc. (OCGN) an Overweight rating. OCGN is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.

What is OCGN’s price target for the next 12 months?

The current consensus forecast for the stock is between $3.50 and $15.00, with a median target price of $5.50. In analyzing these forecasts, the average price target given by analysts for Ocugen Inc. (OCGN) is $7.38.

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