Ocugen Inc (NASDAQ: OCGN) stock jumped 7.46% on Friday to $0.39 against a previous-day closing price of $0.36. With 1.19 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.89 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.3900 whereas the lowest price it dropped to was $0.3662. The 52-week range on OCGN shows that it touched its highest point at $1.67 and its lowest point at $0.34 during that stretch. It currently has a 1-year price target of $4.67. Beta for the stock currently stands at 3.97.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OCGN was up-trending over the past week, with a rise of 8.03%, but this was down by -4.68% over a month. Three-month performance dropped to -12.21% while six-month performance fell -42.30%. The stock lost -76.44% in the past year, while it has lost -70.09% so far this year. A look at the trailing 12-month EPS for OCGN yields -0.32 with Next year EPS estimates of -0.28. For the next quarter, that number is -0.06. This implies an EPS growth rate of 23.03% for this year and 3.42% for next year.
Float and Shares Shorts:
At present, 256.50 million OCGN shares are outstanding with a float of 250.53 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.69 million, which was 9.63% higher than short shares on Sep 28, 2023. In addition to Dr. Shankar Musunuri M.B.A., Ph.D. as the firm’s Co-Founder, CEO & Chairman, Dr. Uday B. Kompella Ph.D. serves as its Co-founder & Independent Director.
Institutional Ownership:
Other institutions hold 7.18% of OCGN, in contrast to 5.83% held by mutual funds. Shares owned by individuals account for 2.75%. As the largest shareholder in OCGN with 4.60% of the stake, The Vanguard Group, Inc. holds 11,800,449 shares worth 11,800,449. A second-largest stockholder of OCGN, GMT Capital Corp., holds 3,922,198 shares, controlling over 1.53% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in OCGN, holding 3,677,415 shares or 1.43% stake. With a 2.96% stake in OCGN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,596,773 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.21% of OCGN stock, is the second-largest Mutual Fund holder. It holds 3,105,569 shares valued at 1.14 million. JPMorgan Funds – Thematics – Gene holds 1.18% of the stake in OCGN, owning 3,013,203 shares worth 1.11 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OCGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OCGN analysts setting a high price target of $5.00 and a low target of $4.00, the average target price over the next 12 months is $4.67. Based on these targets, OCGN could surge 1182.05% to reach the target high and rise by 925.64% to reach the target low. Reaching the average price target will result in a growth of 1097.44% from current levels.
