Ocugen Inc. (OCGN): Don’t Rush To Buy This Stock

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Ocugen Inc. (NASDAQ:OCGN) changes shares on Wednesday trading session, with a change of -2.52% or -$0.01 shares. The trading starts at $0.505 and closed at $0.50 throughout the day. The trading session low price was $0.4801 and day high was $0.51 on Wednesday, August 05. After the session, the Healthcare sector daily volume shifted to 14.09 million while its average volume is 31.21M. In other hand, the OCGN market cap reached to $71.31M.

On June 16, 2020, BRIEF-Ocugen Says Chief Medical Officer & Chief Scientific Officer Were Notified Of Their Employment Termination. According to the news reported on Reuters, * OCUGEN -CHIEF MEDICAL OFFICER & CHIEF SCIENTIFIC OFFICER WERE NOTIFIED OF THEIR EMPLOYMENT TERMINATION EFFECTIVE JULY 15 & DEC 31,RESPECTIVELY

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -16.78% and up 139.51% for month. Its quarterly performance was 46.92% above, while its half year performance is down -9.73%. OCGN yearly performance stood at negative -95.52% and fall -5.58% for year-to-date. Current recommendation for Ocugen Inc. is 2.50.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. OCGN EPS (TTM) for 12-month is 2.09. EPS for this year is 89.60%, while for the next year its value is -0.14. Its EPS Q/Q reached 98.90%. It has an EPS of 50.60% up for past five years.

On the other hand, target price ranges from $0.70 – $1.25. Average target price for OCGN was reached at $0.98.

Renaissance Technologies, LLC, Blackrock Inc. and Virtu Financial LLC are the top three holders in Ocugen Inc. (OCGN) stock. On Mar 30, 2020, Renaissance Technologies, LLC has 0.69 million shares which valued 0.19 million. On Mar 30, 2020, Blackrock Inc. owned 0.65 million shares which valued at 0.18 million. On Dec 30, 2019, Virtu Financial LLC has a total of 0.45 million shares which valued at 0.23 million. In the end, Virtu Financial LLC have 0.60% shares outstanding of Ocugen Inc. (OCGN) on Dec 30, 2019. The insider ownership moved to 0.10% and institutional holding shifted to 7.60%.

The company posted an EPS (TTM) of 2.09. According to the most recent quarter report on (Jun 2020), 2 analysts estimated an average EPS of -0.03, while -6.6 EPS posted a year ago period. Analyst Estimated EPS for OCGN published in the report was -$0.04 – -$0.03 during the same period. Comparing with last year, the average estimated EPS was -6.6 which is lower than -0.07 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for OCGN fall -0.47% for period of 200 days. SMA for 50 days was 64.49% which is showing green signal, while SMA-20 was 33.84%. The moving average value for Ocugen Inc. (OCGN) is 0.3680 and 0.3099 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in OCGN stock. On May 28, Castillo Kirsten, Director, bought 75,000 trading shares at the cost of $0.31, which valued at 23498.0. On Dec 12, Musunuri Shankar, Chief Executive Officer, bought 143,000 shares at the cost of $0.35, with total shares of 406,000. On Dec 11, Musunuri Shankar, Chief Executive Officer, bought 263,000 shares at the cost of 0.41. After this transaction, Musunuri Shankar total shares reached to 263,000 which valued at 0.11 million.