Is Ocugen (OCGN) Headed for a Breakdown?

Ocugen Inc. (OCGN) is a clinical-stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases…

Ocugen Inc. (OCGN) has in-licensed Covaxin, a whole-virion vaccine for Covid-19 that may have advantages over current vaccines in use today, but the earliest it will be approved is in the second quarter of 2023.

OCGN has a very high current ratio of 12.0 and a debt-to-equity ratio of 0.1. The company has had negative recent earnings and estimates for more negative earnings until 2022. 

Based on its price-to-book ratio of 29.4, the stock looks overvalued compared to the industry average. The stock’s performance has been very volatile this year as shown in the chart below.

Take a look at the 1-year chart of OCGN below with added notations…

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