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Should You Buy Ocugen Inc (OCGN) Stock on Friday?

Friday, August 19, 2022 10:25 AM | InvestorsObserver Analysts
Should You Buy Ocugen Inc (OCGN) Stock on Friday?

Overall market sentiment has been down on Ocugen Inc (OCGN) stock lately. OCGN receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bearish
Ocugen Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on OCGN!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With OCGN Stock Today?

Ocugen Inc (OCGN) stock is trading at $2.54 as of 10:08 AM on Friday, Aug 19, a drop of -$0.02, or -0.98% from the previous closing price of $2.56. The stock has traded between $2.46 and $2.57 so far today. Volume today is below average. So far 746,553 shares have traded compared to average volume of 5,117,509 shares. To see InvestorsObserver's Sentiment Score for Ocugen Inc click here.

More About Ocugen Inc

Ocugen Inc is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. The breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug one to many and novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema and diabetic retinopathy. The company is co-developing Bharat Biotech's COVAXIN vaccine candidate for COVID-19 in the U.S. and Canadian markets. Click Here to get the full Stock Report for Ocugen Inc stock.

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