Do Beta Hits Key Level? Ocugen, Inc. (NASDAQ:OCGN) declared OCU400 Receives Orphan Drug Designations for Retinitis Pigmentosa and Leber Congenital Amaurosis

Shares of Ocugen, Inc. (NASDAQ:OCGN) reached at $1.33 price level during last trade its distance from 20 days simple moving average was -11.39%, and its distance from 50 days simple moving average was -16.53% while it has a distance of -41.77% from the 200 days simple moving average. Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced that the FDA granted orphan drug designations to OCU400—human nuclear hormone receptor subfamily 2 group E member 3 (hNR2E3)—for the treatment of retinitis pigmentosa (RP) and Leber congenital amaurosis (LCA).

“Receiving orphan drug designation is incredibly encouraging at this stage in the development of OCU400,” said Arun Upadhyay, PhD, Chief Scientific Officer, Ocugen. “We are excited by the potential of OCU400, a nuclear hormone-based modifier gene therapy product, to treat RP and LCA in a gene agnostic manner. We look forward to working collaboratively with the FDA and other agencies to progress OCU400 through clinical development to commercialization.”

Orphan drug designation is a status given to certain drugs that show promise in the treatment, prevention, or diagnosis of orphan diseases. An orphan disease is a rare disease or condition that affects fewer than 200,000 people in the United States.

Currently, RP is associated with mutations in more than 100 genes, affecting approximately 110,000 people in the United States (U.S.). LCA is associated with mutations in more than 25 genes, affecting approximately 10,000 people in the U.S. There are currently no treatment options available for patients living with RP and LCA, and OCU400 has the potential to treat both with a single product.

OCU400 represents Ocugen’s modifier gene therapy approach, which is based on Nuclear Hormone Receptors (NHRs) that regulate diverse physiological functions, such as homeostasis, reproduction, development, and metabolism to potentially improve retinal health and function.

Past 5 years growth of OCGN observed at 65.20%, and for the next five years the analysts that follow this company are expecting its growth at 0. The average true range (ATR) is a measure of volatility introduced by Welles Wilder in his book, “New Concepts in Technical Trading Systems.” The true range indicator is the greatest of the following: current high less the current low, the absolute value of the current high less the previous close and the absolute value of the current low less the previous close. The average true range is a moving average, generally 14 days, of the true ranges.

The volatility value is used by the investors for various reasons and purposes in measuring the fundamental price change and the rate of variation in OCGN’s price. The ART is a specific type of indicator, which is capable of weighing up stock volatility in the financial markets effectively.

Ocugen, Inc. has an average true range (ATR) of 0.12. Other technical indicators are worth considering in assessing the prospects for EQT. OCGN’s price to sales ratio for trailing twelve months was 0 and price to book ratio for most recent quarter was 3.48, whereas price to cash per share for the most recent quarter was 3.12. The Company’s price to free cash flow for trailing twelve months was 0. Its quick ratio for most recent quarter was 7.20. Analysts mean recommendation for the stock was 2.20. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

Should You Go With High Insider Ownership?

Many value investors look for stocks with a high percent of insider ownership, under the theory that when management are shareholders, they will act in its own self interest, and create shareholder value in the long-term. This aligns the interests of shareholders with management, thus benefiting everyone. While this sounds great in theory, high insider ownership can actually lead to the opposite result, a management team that is unaccountable because they can keep their jobs under almost any circumstance.

Ocugen, Inc.‘s shares owned by insiders remained 0.40%, whereas shares owned by institutional owners are 37.90%.

However, it represents stronger momentum in the market. In the meantime, the Accenture plc’s 14-day RSI was settled at 40.30. All in all, the trends of the stock market were shifting slowly but surely.

Meanwhile, OCGN traded under umbrella of Healthcare sector, the stock was traded -76.99% ahead of its 52-week high and 0.76% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.

The post Do Beta Hits Key Level? Ocugen, Inc. (NASDAQ:OCGN) declared OCU400 Receives Orphan Drug Designations for Retinitis Pigmentosa and Leber Congenital Amaurosis appeared first on Stocks Equity.

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