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 $122,220 were sold by Castillo Kirsten on Aug 11. At $2.91 per share, Castillo Kirsten sold 42,000 shares. The insider’s holdings dropped to 50,000 shares worth approximately $96500.0 following the completion of this transaction.
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Also, Kumar Ramesh sold 7,500 shares, netting a total of over 19,275 in proceeds. Following the sale of shares at $2.57 each, the insider now holds 0 shares.
Before that, Musunuri Shankar had sold 150,000 shares from its account. In a trade valued at $408,000, the Chief Executive Officer traded Ocugen Inc. shares for $2.72 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $1.45 million.
As published in their initiating research note from Mizuho on August 23, 2022, Ocugen Inc. [OCGN] has been a Buy and the price target has been revised to $5. This represents a 61.4% premium over Wednesday’s closing price. As of June 02, 2022, Cantor Fitzgerald has initiated its “an Overweight” rating for OCGN. Earlier on July 26, 2021, Noble Capital Markets initiated its rating. Their recommendation was “an Outperform” for OCGN stock.
Analyzing OCGN’s Price Performance
On Wednesday, Ocugen Inc. [NASDAQ: OCGN] plunged -7.21% to $1.93. The stock’s lowest price that day was $1.93, but it reached a high of $2.11 in the same session. During the last five days, there has been a drop of approximately -16.09%. Over the course of the year, Ocugen Inc. shares have dropped approximately -57.58%. 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 $2.55, while a 200-day SMA reached $3.06. Nevertheless, trading volume fell to 5.15 million shares from 3.15 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 1.87, which, if violated, would cause prices to drop to 1.81. In the upper region, resistance lies at 2.05. The next price resistance is at 2.17. RSI (Relative Strength Index) is 33.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying 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 30,617,946 shares, which is about 14.14% of the total OCGN shares outstanding. The investor’s shares have appreciated by 1,464,242 from its previous 13-F filing of 29153704.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $32,424,065. The Vanguard Group, Inc. acquire a 4.64% interest valued at $28.15 million while Geode Capital Management LLC purchased a 835,005 stake. A total of -15,843 shares of Ocugen Inc. were bought by JPMorgan Asset Management during the quarter, and 466,399 were bought by Morgan Stanley & Co. LLC. In its current portfolio, Northern Trust Investments, Inc. holds 2,026,768 shares valued at $5.23 million.
In terms of Ocugen Inc. share price expectations, FactSet research, analysts set an average price target of $7.00 in the next 12 months, up nearly 164.42% from the previous closing price of $2.08. Analysts anticipate Ocugen Inc. stock to reach $15.00 by 2022, with the lowest price target being $3.50. In spite of this, 6 analysts ranked Ocugen Inc. stock as a Buy at the end of 2022. On June 11, 2021, ROTH Capital assigned a price target of “a Neutral” to the stock and downgraded coverage with a $6.