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Ocugen (OCGN, $6.97) partners with Jubilant HollisterStier to produce COVID-19 vaccine
Shares of Ocugen Inc. in premarket trading on Tuesday, after the company said it chose privately held pharmaceutical contract manufacturer Jubilant HollisterStier, to produce its COVID-19 vaccine (which is still in investigational stage) for the U.S. and Canada. The vaccine, called COVAXIN is not authorized in either country at this time.
“We are fully committed to bringing COVAXIN to the US and Canadian markets because we believe it has the potential to save lives by adding a weapon to the arsenal in the fight against emerging variants,” said J.P. Gabriel, Ocugen’s Senior Vice President, Manufacturing and Supply Chain. “Securing US-based manufacturing capability is a critical step as we prepare to submit our regulatory submissions to the FDA and Health Canada. Based on Bharat Biotech’s strong track record of developing and commercializing vaccines globally and Jubilant’s proven track record in manufacturing, we are well-prepared to transition US manufacturing of COVAXIN to our new partner.”
“We are excited to expand our basket of vaccine products and meet the increasing demand from our customers for COVID-19 vaccines in the US,” said Amit Arora, President Jubilant HollisterStier.
COVAXIN, India's COVID-19 vaccine by Bharat Biotech. It has a vaccine efficacy rate of 78% overall efficacy and 100% in severe COVID-19 disease, in second interim results of Bharat Biotech’s Phase 3 clinical trial.
OCGN in upward trend: price may jump up because it broke its lower Bollinger Band on May 11, 2022
OCGN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In 32 of 33 cases where OCGN's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are 90%.
Throughout the month of 04/13/22 - 05/16/22, the price experienced a -32% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +0.50% Uptrend.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where OCGN's RSI Oscillator exited the oversold zone, 16 of 19 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 84%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 63 of 74 cases where OCGN's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 85%.
Following a +14.75% 3-day Advance, the price is estimated to grow further. Considering data from situations where OCGN advanced for three days, in 186 of 221 cases, the price rose further within the following month. The odds of a continued upward trend are 84%.
The Moving Average Convergence Divergence Histogram (MACD) for OCGN turned negative on May 06, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In 42 of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at 88%.
The 10-day Moving Average for OCGN crossed bearishly below the 50-day moving average on April 07, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 17 of 20 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 85%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where OCGN declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 86%.
The Aroon Indicator for OCGN entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 64%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.37.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 95 (best 1 - 100 worst), indicating slightly worse than average price growth. OCGN’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 99 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.454) is normal, around the industry mean (23.263). P/E Ratio (0.000) is within average values for comparable stocks, (108.275). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.614). Dividend Yield (0.000) settles around the average of (0.024) among similar stocks. P/S Ratio (0.000) is also within normal values, averaging (299.447).
The Tickeron SMR rating for this company is 99 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. OCGN’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.
The average market capitalization across the Biotechnology Industry is 1.6B. The market cap for tickers in the group ranges from 2.5K to 237B. NVO holds the highest valuation in this group at 237B. The lowest valued company is IMUND at 2.5K.
The average weekly price growth across all stocks in the Biotechnology Industry was 0.75%. For the same Industry, the average monthly price growth was -20.19%, and the average quarterly price growth was -31.98%. IVBT experienced the highest price growth at 86.5%, while EMMA experienced the biggest fall at -60.75%.
- 4/12/22 7:11 AM: Ocugen (OCGN, $2.9) is a top weekly loser for penny stocks, falling -15.94%
- 3/19/22 4:49 AM: Ocugen (OCGN, $3.72) was a top weekly gainer, with a +51.84% jump
- 3/3/22 7:26 AM: Ocugen (OCGN, $3.51) was a top weekly gainer, with a +12.14% jump
The average weekly volume growth across all stocks in the Biotechnology Industry was 47.7%. For the same stocks of the Industry, the average monthly volume growth was -20.86% and the average quarterly volume growth was 3.39%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the Volume Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 36%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.02.
10 stocks in the group of tickers confirmed the positive outlook based on the RSI indicator with average odds of 86%.
The most notable companies in this group are Novavax (NASDAQ:NVAX), BioCryst Pharmaceuticals (NASDAQ:BCRX), Cel-Sci Corp (ASE:CVM).
The average market capitalization across the group is 763M. The market cap for tickers in the group ranges from 18.6M to 4.1B. NVAX holds the highest valuation in this group at 4.1B. The lowest valued company is IDRA at 18.6M.
The average weekly price growth across all stocks in the group was -2.39%. For the same group, the average monthly price growth was -25.14%, and the average quarterly price growth was -56.51%. SGMO experienced the highest price growth at 4.86%, while IDRA experienced the biggest fall at -13.8%.
- 5/14/22 4:23 AM: Idera Pharmaceuticals (IDRA, $0.35) is a top weekly loser for penny stocks, falling -16.58%
- 5/12/22 5:38 AM: Pluristem Therapeutics (PSTI, $1.43) is a top weekly loser for penny stocks, falling -15.88%
- 5/10/22 5:36 AM: Genetic Technologies (GENE, $1.32) is a top weekly loser for penny stocks, falling -16.82%
The average weekly volume growth across all stocks in the group was -56.14%. For the same stocks of the group, the average monthly volume growth was -35.11% and the average quarterly volume growth was -41.37%
- 5/14/22 4:16 AM: The volume for Compugen stock increased for four consecutive days, resulting in a record-breaking daily growth of 84% of the 65-Day Volume Moving Average
- 4/20/22 8:52 AM: The volume for Idera Pharmaceuticals stock increased for one day, resulting in a record-breaking daily growth of 349% of the 65-Day Volume Moving Average
- 3/19/22 4:43 AM: The volume for Agenus stock increased for one day, resulting in a record-breaking daily growth of 249% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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