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Wednesday, February 1, 2023

This Is Too Hot For Ocugen Inc. (NASDAQ: OCGN), Let’s Take A Closer Look

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Ocugen Inc. (OCGN) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $1.24. The Ocugen Inc. has recorded 953,737 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Ocugen Announces Positive Top-Line Data for COVID-19 Vaccine Candidate COVAXIN™ (BBV152) in Phase 2/3 Immuno-bridging and Broadening Study: Both Co-primary Endpoints Met.

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Stocks Info

As a NASDAQ listed company, OCGN falls under the Healthcare sector while operating within the Biotechnology industry segment. At the end of the last regular session, the stock closed at $1.24 and fluctuated between $1.2500 as its day high and $1.1800 as its day low. The current market capitalization of Ocugen Inc. is $260.19M. A total of 6.28 million shares were traded on the day, compared to an average of 5.06M shares.

In the most recent transaction, Musunuri Shankar sold 100,000 shares of OCGN for 1.28 per share on Jan 17. After the transaction, the Chief Executive Officer now owns 2,227,950 company shares. In a previous transaction on Dec 16, Musunuri Shankar sold 95,809 shares at 1.43 per share. OCGN shares that Chief Executive Officer owns now total 752,540.

Among the insiders who sold shares, Musunuri Shankar disposed of 100,000 shares on Oct 14 at a per-share price of $1.66. This resulted in the Chief Executive Officer holding 752,540 shares of OCGN after the transaction. In another insider transaction, Kumar Ramesh sold 4,500 shares at $1.83 per share on Oct 06. Company shares held by the Director now total 0.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for OCGN in the last 3 months, the mean price target is $5.33 with high estimates of $8.00 and low estimates of $3.50. In terms of 52-week highs and lows, OCGN has a high of $4.53 and a low of $1.09.

As of this writing, OCGN has an earnings estimate of -$0.1 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.06 per share and a lower estimate of -$0.12.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 6 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OCGN is Overweight with a score of 4.67. A total of 5 analysts rated the stock as Buy while 0 rated it as Overweight while 1 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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