Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ocugen Inc. shares valued at $240,000 were sold by Musunuri Shankar on May 13. At $1.92 per share, Musunuri Shankar sold 125,000 shares. The insider’s holdings dropped to 752,540 shares worth approximately $1.78 million following the completion of this transaction.
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Also, Kumar Ramesh sold 7,500 shares, netting a total of over 21,225 in proceeds. Following the sale of shares at $2.83 each, the insider now holds 0 shares.
Before that, Musunuri Shankar had sold 81,823 shares from its account. In a trade valued at $216,831, the Chief Executive Officer traded Ocugen Inc. shares for $2.65 each. Upon closing the transaction, the insider’s holdings decreased to 81,823 shares, worth approximately $1.78 million.
As published in their initiating research note from Lake Street on May 11, 2017, RiceBran Technologies [RIBT] has been a Buy and the price target has been revised to $2. This represents a 60.5% premium over Wednesday’s closing price. Analysts at Maxim Group downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late March. As of March 03, 2016, Maxim Group has reiterated its “Buy” rating for RIBT. Earlier on November 13, 2015, Maxim Group resumed its rating. Their recommendation was “a Buy” for RIBT stock. This represents a 70.38% premium over Wednesday’s closing price. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in early June. As of July 26, 2021, Noble Capital Markets has initiated its “an Outperform” rating for OCGN. Earlier on June 11, 2021, ROTH Capital downgraded its rating. Their new recommendation was “a Neutral” for OCGN stock which previously was a “a Buy”.
Analyzing OCGN’s Price Performance
On Wednesday, Ocugen Inc. [NASDAQ: OCGN] rose 4.87% to $2.37. The stock’s lowest price that day was $2.13, but it reached a high of $2.46 in the same session. During the last five days, there has been a surge of approximately 22.16%. Over the course of the year, Ocugen Inc. shares have dropped approximately -47.91%. Shares of the company reached a 52-week high of $4.90 on 01/03/22 and a 52-week low of $1.67 on 05/12/22. A 50-day SMA is recorded $2.30, while a 200-day SMA reached $4.85. Nevertheless, trading volume fell to 6.69 million shares from 8.69 million shares the previous day.
Support And Resistance Levels for Ocugen Inc. (OCGN)
According to the 24-hour chart, there is a support level at 2.18, which, if violated, would cause prices to drop to 1.99. In the upper region, resistance lies at 2.51. The next price resistance is at 2.65. RSI (Relative Strength Index) is 53.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 29.17%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ocugen Inc. subject to short interest?
Stocks of Ocugen Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 3.37 million shares to 58.6 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 55.23 million shares. A jump of 5.75% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.38.
Which companies own the most shares of Ocugen Inc. (OCGN)?
According to SSgA Funds Management, Inc. filings, the company currently owns 29,153,704 shares, which is about 13.52% of the total OCGN shares outstanding. The investor’s shares have appreciated by 15,136,085 from its previous 13-F filing of 14017619.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $24,795,627. The Vanguard Group, Inc. acquire a 3.29% interest valued at $24.72 million while JPMorgan Asset Management sold a -89,678 stake. A total of 1,645,290 shares of Ocugen Inc. were sold by Southpoint Capital Advisors LP during the quarter, and -430,234 were sold by Geode Capital Management LLC. In its current portfolio, BofA Securities, Inc. holds 2,727,211 shares valued at $6.46 million.
In terms of Ocugen Inc. share price expectations, FactSet research, analysts set an average price target of $7.60 in the next 12 months, up nearly 209.73% from the previous closing price of $2.26. Analysts anticipate Ocugen Inc. stock to reach $15.00 by 2022, with the lowest price target being $3.50. In spite of this, 5 analysts ranked Ocugen Inc. stock as a Buy at the end of 2022.