Ocugen Inc.’s recent filing unveils that its Director Zhang Junge acquired Company’s shares for reported $99999.0 on Jun 14. In the deal valued at $0.50 per share,200,278 shares were bought. As a result of this transaction, Zhang Junge now holds 1,077,182 shares worth roughly $ 0.43 million.
Then, Musunuri Shankar sold 100,000 shares, generating $108,000 in total proceeds. Upon selling the shares at $1.08, the Chief Executive Officer now owns 2,190,073 shares.
Before that, Musunuri Shankar sold 100,000 shares. Ocugen Inc. shares valued at $128,000 were divested by the Chief Executive Officer at a price of $1.28 per share. As a result of the transaction, Musunuri Shankar now holds 2,227,950 shares, worth roughly $0.89 million.
Chardan Capital Markets upgraded its Ocugen Inc. [OCGN] rating to a Buy from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of 88.57 to its Monday closing price.
Price Performance Review of OCGN
On Monday, Ocugen Inc. [NASDAQ:OCGN] saw its stock fall -2.25% to $0.40. On the same session, the stock had its day’s lowest price of $0.395, but rose to a high of $0.42. Over the last five days, the stock has lost -4.76%. Ocugen Inc. shares have fallen nearly -69.23% since the year began. Nevertheless, the stocks have fallen -83.05% over the past one year. While a 52-week high of $2.32 was reached on 01/09/23, a 52-week low of $0.40 was recorded on 09/18/23. SMA at 50 days reached $0.5058, while 200 days put it at $0.8269. A total of 5.23 million shares were traded, compared to the trading of 1.68 million shares in the previous session.
Levels Of Support And Resistance For OCGN Stock
The 24-hour chart illustrates a support level at 0.3900, which if violated will result in even more drops to 0.3800. On the upside, there is a resistance level at 0.4150. A further resistance level may holdings at 0.4300. The Relative Strength Index (RSI) on the 14-day chart is 34.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0167, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.80%. Stochastics %K at 17.43% indicates the stock is a buying.
How much short interest is there in Ocugen Inc.?
A steep rise in short interest was recorded in Ocugen Inc. stocks on Aug 30, 2023, growing by 0.69 million shares to a total of 25.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 24.83 million shares. There was a rise of 2.7%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.90% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.86.
Ocugen Inc. [OCGN] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 11,681,242 shares, or roughly 4.55% of the outstanding OCGN shares. In other words, the investor’s shares have fallen by -825,178 from its previous 13-F filing of 12506420.0.. Over the last quarter, BlackRock Fund Advisors sold -10,098,331 shares of Ocugen Inc., while Millennium Management LLC sold 1,748,855 shares. At present, JPMorgan Asset Management is holding 2,912,274 shares valued at $1.26 million. Geode Capital Management LLC owned 2,862,968 shares of the company at the time of its most recent 13F filing, worth $1.23 million.
According to FactSet, Ocugen Inc.’s share price will average $4.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 997.56 percent from its previous closing price of $0.41. Analysts expect Ocugen Inc. stock to reach the higher price of $5.00, while the lowest price estimate is $2.00. However, 4 analysts have rated OCGN stock as a Buy in their predictions for 2023.