Castillo Kirsten Acquires Ocugen Inc. (OCGN) Shares

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Ocugen Inc. (NASDAQ:OCGN) finished Thursday with a subtraction of -$0.09 to close at $1.84, a downside of -4.66 percent. An average of 6,015,900 shares of common stock have been traded in the last five days. There was a fall of -$0.5200 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 5,017,925 shares traded, while the 50-day average volume stands at 5,052,826.

OCGN stock has decreased by -28.12% in the last month. The company shares reached their 1-month lowest point of $1.8125 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $1.67 and a high of $17.65 in 52 weeks. It has reached a new high 1 time so far this year and lost -59.56% or -$2.7100 in price. In spite of this, the price is down -89.58% from the 52-week high.


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Insider Transactions

43 days have passed since Ocugen Inc. (OCGN) last reported insider trading activity. Castillo Kirsten, who is Director, most recently acquired $42,000 shares at $2.91 per share on Aug 11. In this transaction, the insider spent $122,220. Director, Kumar Ramesh, disposed of 7,500 shares at a price of $2.57 on Jul 18. The insider now owns more than $19,275 worth of shares. Prior to that, Chief Executive Officer Musunuri Shankar went on to Sale 150,000 shares at $2.72 each on Jul 14. An amount of $408,000 was transacted.

Valuation Metrics

Ocugen Inc. (OCGN) stock’s beta is 4.26. Other valuation ratios to consider include the price-to-book (PB) ratio at 3.47.

Financial Health

The quick ratio of Ocugen Inc. for the three months ended March 30 was 11.90, and the current ratio was 11.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.02 and a total debt to equity ratio of 0.00 for the quarter ending March 30. Its gross profit as reported stood at $58.03 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ocugen Inc.’s return on assets was -50.90%.

Earnings Surprise

For the three-month period that ended March 30, Ocugen Inc. had $1.75 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$19.47 million in the quarter, while revenues were shrunk -33.28%. The analyst consensus anticipated Ocugen Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be -$0.09. For the quarter, EBITDA amounted to -$19.48 million. Shareholders own equity worth $216.57 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Ocugen Inc. (OCGN) price momentum. RSI 9-day as of the close on 22 September was 23.96%, suggesting the stock is oversold, with historical volatility in this time frame at 55.36%.

As of today, OCGN’s price is $2.0300 -22.03% or -$0.5200 from its 5-day moving average. OCGN is currently trading -36.11% lower than its 20-day SMA and -15.98% lower than its 100-day SMA. However, the stock’s current price level is -36.77% below the SMA50 and -65.93% below the SMA200.

The stochastic %K and %D were 7.26% and 6.99%, respectively, and the average true range (ATR) was 0.1596. With the 14-day stochastic at 3.13% and the average true range at 0.1689, the RSI (14) stands at 31.04%. The stock has reached -0.2189 on the 9-day MACD Oscillator while the 14-day reading was at -0.2936.

Analyst Ratings

Mizuho launched coverage on Ocugen Inc. (NASDAQ: OCGN) in its analyst report released on August 23, 2022. The firm assigned the stock a Buy rating. The consensus rating for Ocugen Inc. (OCGN) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OCGN, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.

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

Analysts predict a range of price targets between $3.50 and $15.00, with a median target of $5.50. Taking a look at these predictions, the average price target given by analysts for Ocugen Inc. (OCGN) stock is $7.00.

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