Why Ocugen Stock Is Climbing Today

Ocugen, Inc. OCGN shares are trading higher Friday after the company announced it has received approval to proceed dosing with the medium dose of OCU410 in the dose-escalation phase of its Phase 1/2 study.

The Details:

Ocugen said the Data and Safety Monitoring Board for the Phase 1/2 ArMaDa clinical trial for OCU410 has  approved to proceed dosing with the medium dose of OCU410 in the dose-escalation phase of the study.

“The positive DSMB review for the first modifier gene therapy for GA significantly builds on the favorable safety and tolerability profile exhibited by OCU410. We are very enthusiastic about the potential of OCU410 as a one-time treatment for life with a single sub-retinal injection,” said Huma Qamar, M.D., MPH, Chief Medical Officer of Ocugen. 

The company provided a business update earlier in the week highlighting progress in its modifier gene therapy programs for blindness diseases, including promising results in the OCU400 Phase 1/2 study for Retinitis Pigmentosa (RP). Additionally, enrollment and dosing progress were noted in its OCU410 and OCU410ST trials. 

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OCGN Stock Prediction 2024:

Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Ocugen , an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Ocugen, the 200-day moving average sits at $0.60, according to Benzinga Pro, which is below the current price of $1.81. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

OCGN Price Action: According to Benzinga Pro, Ocugen shares are up 20% at $1.81 at the time of publication Friday.

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