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 $19,275 were sold by Kumar Ramesh on Jul 18. At $2.57 per share, Kumar Ramesh sold 7,500 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Musunuri Shankar sold 150,000 shares, netting a total of over 408,000 in proceeds. Following the sale of shares at $2.72 each, the insider now holds 752,540 shares.
Before that, Musunuri Shankar had sold 125,000 shares from its account. In a trade valued at $240,000, the Chief Executive Officer traded Ocugen Inc. shares for $1.92 each. Upon closing the transaction, the insider’s holdings decreased to 125,000 shares, worth approximately $2.08 million.
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 Thursday, Ocugen Inc. [NASDAQ: OCGN] rose 2.59% to $2.77. The stock’s lowest price that day was $2.68, but it reached a high of $2.79 in the same session. During the last five days, there has been a surge of approximately 5.73%. Over the course of the year, Ocugen Inc. shares have dropped approximately -39.12%. 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 $2.44, while a 200-day SMA reached $4.09. Nevertheless, trading volume fell to 5.26 million shares from 4.08 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 2.70, which, if violated, would cause prices to drop to 2.64. In the upper region, resistance lies at 2.81. The next price resistance is at 2.86. RSI (Relative Strength Index) is 57.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 16.98%, 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 steep in short interest on Jul 14, 2022 dropping by -0.75 million shares to 53.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 54.69 million shares. A decline of -1.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.75 of the overall float, the days-to-cover ratio (short ratio) decline to 8.75.
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 transaction, BlackRock Fund Advisors’s stake is now worth $23,749,398. The Vanguard Group, Inc. acquire a 3.29% interest valued at $23.67 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 $6.19 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 159.26% from the previous closing price of $2.70. 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.