Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. In that list, you can even include penny-stock trader. If Ocugen goes up, you can still profit. Ocugen Inc Stock - OCGN Share Price Today, News and Discussion 0.90% SPY 0.59% QQQ 0.60% TSLA 6.12% SI 60.35% CRM 11.51% RIVN 0.32% ARKK 0.96% RLY.X 56.44% PLUG 6.72% V 0.22% CDIO 13.87% RETA 5.92% More Advertisement 3rd Party Ad. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Shares of Ocugen (OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. It has real management. Shares of Ocugen (OCGN 4.03%) were crashing 19.2% lower as of 11:23 a.m. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. That's right -- they think these 10 stocks are even better buys. The Motley Fool->. Still, Ocugen investors who bought one year ago and held on have generated a huge return on their investment. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. All rights reserved. With this, the newly formed Ocugen initiated a 60:1 reverse stock split. But the allure of the space is that when a company wins, its shareholders win big. I am all for a good opportunity, but I dont know why some investors insist on penny stocks. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. In this case, shares rallied about four-fold in just a few days. When the market crashed during the U.S. pandemic outbreak in March, shares of vaccine makers understandably soared as work began on developing vaccines to fight COVID-19. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. For investors new to the story, there are some positives when it comes to OCGN stock. The reverse merger with Histogenics was a disappointment, but the purchase price for the NeoCart intellectual property suggests that company had little chance of survival on its own. Names like Ocugen (NASDAQ:OCGN) arent trading for about 50 cents apiece by accident. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. That's not going to happen now. Ocugen has responded to Health Canada regarding deficiencies identified with its regulatory filing for Covaxin. Click here to see what Matt has up his sleeve now. Pricing likely would be favorable, given the lack of alternative treatments. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Ocugen hasn't stated yet when a potential late-stage study of Covaxin could start. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. OCGN | Ocugen Inc. Stock Price & News - WSJ Ocugen Inc. OCGN (U.S.: Nasdaq) REAL TIME 12:30 PM EST 02/21/23 $0.9819USD -0.0981 -9.08% Volume 3,761,699 65 Day Avg Vol 5,026,332 1 Day Range. That doesnt mean success is guaranteed. After all, one cannot expect Ocugen stock to cure its ills when the company itself has fallen into critical condition. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. While anything is possible, I would not anticipate a miracle here. Copy and paste multiple symbols separated by spaces. Unfortunately, both the merger and the reverse split have failed to stem the decline of former Histogenics stock. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. Create your Watchlist to save your favorite quotes on Nasdaq.com. The stock had gained some traction after they announced the Ocugen merger in April. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. Copyright The second is that the balance sheet still needs some help. Ocugen announced in late Decemberit had signed a letter of intent to co-develop COVID-19 vaccine candidate Covaxin along with Indian pharmaceutical company Bharat Biotech. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. (To watch Ramakanths track record, click here), In contrast, all 3 other analysts who have recently posted an Ocugen review rate the stock a Buy. Unfortunately for longs, OCGN is much closer to the worst of conditions. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. CanSinoBio is a legitimate player in the industry; the companys market cap is near $2 billion after a nice rally in recent weeks. UPDATE 1-Soccer-Traore on target as Wolves stun wasteful Spurs, Peruvian communities to resume blockade of crucial "mining corridor", One student loan forgiveness effort 'hasnt gotten the attention it deserves': expert, RPT-Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, Soccer-Traore on target as Wolves stun wasteful Spurs. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Type a symbol or company name. Theres an opportunity here. Keith Speights for Written by Our 3 Top Picks. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. The Motley Fool has a disclosure policy. Thats not a new problem: a previous Phase 1/2 study, according to the prospectus, was discontinued early due to slow enrollment. The company noted that additional trials may be required as well. Ocugen Inc., formerly known as Histogenics Cp, is based in Malvern, Pennsylvania. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The statistics support having long-term exposure to this asset class. The potential synergies of such a union do not seem clear. But just because a company does not have crippling debt doesnt mean its a buy. 1125 N. Charles St, Baltimore, MD 21201. Healthy companies do not undergo 1-for-60 reverse stock splits like this one did in September 2019. The S&P 500 has rallied 52.9% from the March low to its highs on August 6. For priority reviews, the timeline for an approval decision is reduced to six months. This decision isn't surprising, considering that Ocugen previously abandoned the pursuit of an EUA path for the vaccine in adults. The broad point here is that, even with a ~$30 million market capitalization (based on updated share count information disclosed in an 8-K filing on Dec. 9), this is a company with a legitimate opportunity. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. Sign up below to get this incredible offer! OCGN does not even appear to have an apparent reason to exist. Not an offer or recommendation by Stocktwits. Indeed, the price broke below the 24 December 2018 low at 4.81 and is currently attempting a return move. Add in a $31 million market capitalization and potentially significant cash burn, and Ocugen stock self-evidently is not for risk-averse investors. It means that institutional investors focused on the sector largely have passed on the pipeline. Nasdaq In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. Conditions have only become worse since that time. It brings in no revenue. A $30 million market capitalization doesnt mean Ocugen has no chance. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. 7 Travel Stocks to Buy Banking On Pent-Up Demand. Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. Nano-cap biotech play Ocugen has an intriguing story and a ton of risk. The vaccine reportedly has a 78% efficacy rate against COVID-19, significantly lower than leading vaccines granted FDA emergency authorization. Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. Other than an emphasis on cell therapies, the companies had almost nothing in common. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days later. These symbols will be available throughout the site during your session. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. If they invent a miracle treatment for a condition, the money will find its way to the stock. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. As of this writing, Matt did not hold a position in any of theaforementioned securities. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. It is very important to do your own analysis before making any investment. These options will be cheaper than owning the stock itself. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. If were playing that game then Im buying LEAP call options on Apple and Amazon in March. First, the balance sheet is in at least decent shape. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. 7 Penny Stocks Poised for Explosive Growth in 2023, Ocugen Stock Is Not for the Faint of Heart. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday. The company does not earn revenue, relying on grants, a dwindling cash position, and stock dilution to keep its doors open. The Motley Fool has no position in any of the stocks mentioned. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. All rights reserved. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Do not expect this to become the biotech who made good like Biogen (NASDAQ:BIIB). Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The biotech stock promptly crashed by more than 30%. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. All rights reserved. Do Not Sell My Personal Information (CA Residents Only). The generic form of brimonidine, the active ingredient, is not approved for the condition, according to Ocugens most recent presentation. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. For now, the biggest near-term hope for Covaxin may be that Canada or another developed economy will buy the vaccine to share with developing nations. Even at around 40 cents per share, I would consider Ocugen stock overvalued. That said, for investors who understand the potential downside, there is an intriguing story here. Those lessons will vary between different investors, but I'll point out a major one to keep in mind. Accordingly, the analyst rates OCGN a Neutral (i.e. Cost basis and return based on previous market day close. Type a symbol or company name. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. This requires no immediate effort on your part. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Ocugen Inc. is a clinical stage biopharmaceutical company. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. The content is intended to be used for informational purposes only. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. You could sell some or all of your Ocugen shares and buy long-term call options on the stock. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. Like other life sciences companies involved in Covid-19 vaccine. Ocugen came to the market via what was essentially a reverse merger with Histogenics Corporation, a deal that closed at the end of September. But if they do, Ocugen stock at the least looks like an intriguing bet. 86% of retail CFD accounts lose money, Benzinga's Top Ratings Upgrades, Downgrades For March 1, 2023, Ocugen upgraded at Chardan citing attractive entry point ahead of catalysts, Analysts Are Bullish on These Healthcare Stocks: Theratechnologies (THTX), Ocugen (OCGN), Ocugen (OCGN) Gets a Buy from H.C. Wainwright, Mizuho Securities Sticks to Their Buy Rating for Ocugen (OCGN), Ocugen (OCGN) Q4 2022 Earnings Call Transcript, Why Catalyst Biosciences Shares Are Trading Higher By 105%; Here Are 20 Stocks Moving Premarket, Registration on or use of this site constitutes acceptance of our. These symbols will be available throughout the site during your session. Nasdaq 1 Reason to Buy Ocugen in 2023 and 2 Reasons to Sell, 3 Under-the-Radar Stocks With 590% to 772% Upside in 2023, According to Wall Street, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Want $1 Million in Retirement?
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