Ocugen, Inc. (OCGN) Stock Price & Analysis
Ocugen, Inc. (OCGN) is trading at USD 0.75, down 5.52% today, as of October 23, 2026 at 16:19 UTC (US market open; quotes may be delayed), according to Nexqual market data.
OCGN last closed at USD 0.75; today's session has ranged USD 0.74–0.8 on volume of 3,748,925 shares. Market capitalization is —, with a 52-week range of USD 0.74–2.73 (NCM). Source: Nexqual, retrieved October 23, 2026 at 16:19 UTC.
Also available as compact Markdown for AI agents: nexqual.com/OCGN.md
Key facts (OCGN)
- Last four reported quarters (through Jun 30, 2026): revenue $4.6M, net income -$81.8M (-1786.3% margin), free cash flow -$61.0M (SEC filings).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $1.1M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $26K; 0 by opportunistic insiders, 0 by routine insiders.
- Total return with dividends: 1Y -51.2% vs S&P 500 +14.7%; 5Y -93.7% vs S&P 500 +77.5%.
- Next earnings: 2026-11-04, EPS estimate USD -0.05, revenue estimate $780K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (OCGN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $0K | $2.5M | $6.0M | $4.1M | $4.4M | $4.6M |
| Operating income | -$58.0M | -$89.1M | -$65.5M | -$54.8M | -$62.9M | -$68.9M |
| Net income | -$58.4M | -$86.8M | -$63.1M | -$54.1M | -$67.8M | -$81.8M |
| EPS (diluted) | -$0.30 | -$0.40 | -$0.26 | — | — | — |
| Free cash flow | -$48.9M | -$64.5M | -$72.5M | -$45.5M | -$57.1M | -$61.0M |
| Operating margin | — | -3580.0% | -1085.7% | -1350.4% | -1425.7% | -1504.4% |
| Net margin | — | -3488.9% | -1045.0% | -1333.0% | -1537.4% | -1786.3% |
| Revenue growth | -100.0% | — | +142.6% | -32.8% | +8.8% | — |
| Cash + short-term investments | $95.0M | $90.9M | $39.5M | — | — | — |
| Total debt | $1.7M | $2.3M | $2.8M | $28.7M | $28.8M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (OCGN)
Insider sales (SEC Form 4, open-market, last ~7 months) (OCGN)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-09 | Musunuri Shankar | Chief Executive Officer | 525,991 | $500K | 9.4% | Yes (adopted June 5, 2026) | Too little history (no open-market trades in 2024 or 2025) |
| 2026-09-09 | Musunuri Shankar | Chief Executive Officer | 525,991 | $589K | 8.6% | Yes (adopted June 5, 2026) | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (OCGN)
1 purchase, $26K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-15 | Johnson-Greene Treerita Essalima | Chief Financial Officer | 21,000 | $26K | 1.23 | Too little history (no open-market trades in 2023–2025) |
Analysts (OCGN)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-10 | HC Wainwright & Co. | Target lowered | Buy | $10 → $9.5 |
Total return (dividends reinvested) (OCGN)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -51.2% | -93.7% |
| S&P 500 (SPY) | +14.7% | +77.5% |
| Per year | -51.2% | -42.5% |
| Volatility (annualized) | 78.2% | 85.0% |
| Max drawdown | -69.9% (Mar 2026→Oct 2026) | -97.0% (Oct 2021→Oct 2023) |
OCGN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | CanSino Biologics | “We have established a partnership with CanSino Biologics, Inc. ("CanSinoBIO") for our modifier gene therapy platform.” |
| Partner | Pfizer (PFE) | “Companies such as Pfizer Inc./BioNTech SE, Moderna, Inc., CureVac N.V in partnership with GSK plc, Vivaldi Biosciences Inc., and Novavax, Inc. are also in the process of developing a combination vaccine that will protect against COVID-19 and the seasonal flu.” |
| Partner | Moderna (MRNA) | “Companies such as Pfizer Inc./BioNTech SE, Moderna, Inc., CureVac N.V in partnership with GSK plc, Vivaldi Biosciences Inc., and Novavax, Inc. are also in the process of developing a combination vaccine that will protect against COVID-19 and the seasonal flu.” |
| Partner | Avenue Capital Management II | “•The terms of our Loan and Security Agreement with Avenue Capital Management II, L.P. and the lenders listed therein as well as our loan agreement with EB5 Life Sciences, L.P. require us to meet certain operating covenants and place restrictions on our operating and financial flexibility.” |
| Partner | MeiraGTx Holdings plc (MGTX) | “We are aware of several companies focusing on gene therapies for various ophthalmic indications including Applied Genetic Technologies Corporation, as acquired by Beacon Therapeutics, Astellas Pharma Inc., MeiraGTx Holdings plc in partnership with Janssen Pharmaceuticals, Inc., Nanoscope Therapeutics Inc., REGENXBIO Inc., Novartis AG, F.” |
| Partner | REGENXBIO Inc. (RGNX) | “We are aware of several companies focusing on gene therapies for various ophthalmic indications including Applied Genetic Technologies Corporation, as acquired by Beacon Therapeutics, Astellas Pharma Inc., MeiraGTx Holdings plc in partnership with Janssen Pharmaceuticals, Inc., Nanoscope Therapeutics Inc., REGENXBIO Inc., Novartis AG, F.” |
| Partner | NOVARTIS AG (NVS) | “We are aware of several companies focusing on gene therapies for various ophthalmic indications including Applied Genetic Technologies Corporation, as acquired by Beacon Therapeutics, Astellas Pharma Inc., MeiraGTx Holdings plc in partnership with Janssen Pharmaceuticals, Inc., Nanoscope Therapeutics Inc., REGENXBIO Inc., Novartis AG, F.” |
| Partner | KIORA PHARMACEUTICALS INC (KPRX) | “Hoffmann-La Roche AG ("Roche AG"), Kiora Pharmaceuticals, Inc., Genentech, Inc. in partnership with Lineage Cell Therapeutics, Inc., and Luxturna, the product developed by Spark Therapeutics, Inc. and marketed by Roche AG, is currently the only gene therapy approved to treat IRDs in the United States which addresses only mutations in the one gene, RPE65.” |
| Partner | Lineage Cell Therapeutics, Inc. (LCTX) | “Hoffmann-La Roche AG ("Roche AG"), Kiora Pharmaceuticals, Inc., Genentech, Inc. in partnership with Lineage Cell Therapeutics, Inc., and Luxturna, the product developed by Spark Therapeutics, Inc. and marketed by Roche AG, is currently the only gene therapy approved to treat IRDs in the United States which addresses only mutations in the one gene, RPE65.” |
| Partner | NOVAVAX INC (NVAX) | “Companies such as Pfizer Inc./BioNTech SE, Moderna, Inc., CureVac N.V in partnership with GSK plc, Vivaldi Biosciences Inc., and Novavax, Inc. are also in the process of developing a combination vaccine that will protect against COVID-19 and the seasonal flu.” |
| Partner | The Schepens Eye Research Institute | “In December 2017, we entered into an exclusive license agreement with SERI, which was amended in January 2021 (as amended, the "SERI Agreement").” |
| Partner | EB5 Life Sciences | “•The terms of our Loan and Security Agreement with Avenue Capital Management II, L.P. and the lenders listed therein as well as our loan agreement with EB5 Life Sciences, L.P. require us to meet certain operating covenants and place restrictions on our operating and financial flexibility.” |
Quoted from the company's 10-K filed Mar 4, 2026.
OCGN company outlook (results filed Aug 6, 2026)
- “Topline results anticipated in the second quarter of 2027, with a BLA submission to follow mid-2027 ·”
- “FDA feedback confirmed that the path to rolling BLA submission remains tied to topline data expected in the first quarter of 2027, and the company is advancing preparation accordingly, including successfully completing Process Performance Qualification (PPQ) batches ·”
Quoted word-for-word from the SEC 8-K results press release.
OCGN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.05 | $-0.05 | +0.0% | $780,000 | 3 |
| Next quarter (ends Dec 2026) | $-0.06 | $-0.06 | +5.9% | $960,000 | 3 |
| Current fiscal year (ends Dec 2026) | $-0.24 | $-0.22 | +6.0% | $5.0M | 3 |
| Next fiscal year (ends Dec 2027) | $-0.25 | $-0.23 | +7.8% | $5.5M | 3 |
OCGN options: expected move
Options price a move of about ±44.2% (±$0.33) by Nov 20, 2026, which includes earnings on Nov 4, 2026. Over the last 8 reports the stock moved ±7.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 182.9% | ±44.2% |
| Jan 15, 2027 | 84 | 157.4% | ±53.5% |
| Apr 16, 2027 | 175 | 218.3% | ±93.7% |
30-day implied volatility 89% vs 53.7% realized over the last 30 trading days. Put/call ratio (volume) 0.01. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 16:19 UTC)
| Price | USD 0.75 |
|---|---|
| Change | ▼ 5.52% (down) |
| Previous Close | USD 0.75 |
| Open | USD 0.75 |
| Day Range | USD 0.74 – 0.8 |
| 52-Week Range | USD 0.74 – 2.73 |
| Volume | 3,748,925 shares |
| Market Cap | — |
| Exchange | NCM |
Technical Analysis (OCGN)
Nexqual's technical model rates OCGN "SELL" based on 2 bullish and 5 bearish signals across 128 daily candles, as of October 23, 2026 at 16:19 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 21.24 (oversold) |
| vs SMA50 | Below (USD 1.1) |
| MACD | -0.09 (negative) |
Earnings (OCGN)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD -0.05 |
| Revenue Estimate | $780,000 |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.06 vs est -0.05 ▼ miss |
| 2026-03-31 | USD -0.06 vs est -0.05 ▼ miss |
| 2025-12-31 | USD -0.06 vs est -0.06 ▼ miss |
| 2025-09-30 | USD -0.07 vs est -0.06 ▼ miss |
Source: Nexqual, October 23, 2026 at 16:19 UTC.
Financials & Fundamentals (OCGN)
| Total Revenue | $4.58M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +8.40% |
| Gross Margin | +0.00% |
| Operating Margin | -1105.11% |
| Profit Margin | +0.00% |
| Current Ratio | 0.8 |
| Total Cash | $100.05M |
| Total Debt | $87.99M |
Source: Nexqual, October 23, 2026 at 16:19 UTC.
Ownership (OCGN)
| Insider Ownership | +1.40% |
|---|---|
| Institutional Ownership | +43.60% |
| Shares Outstanding | 339.11M |
| Float | 334.30M |
| Short % of Float | +30.09% |
Source: Nexqual, October 23, 2026 at 16:19 UTC.
From Ocugen, Inc.'s Latest SEC 10-K Filing (filed 2026-03-04)
Key Strengths & Strategy (as disclosed to the SEC)
- In August, 2025, we announced that the Committee for Medicinal Products for Human Use (CHMP) of EMA reviewed the study design, endpoints and planned statistical analysis of the ongoing pivotal confirmatory OCU410ST Phase 2/3 GARDian3 clinical trial for ST and provided acceptability of a single U.S.-based trial for submission of a Marketing Authorization Application ("MAA").
- OCU410ST has also received OMPD from the EMA, for the treatment of ABCA4-associated retinopathies including Stargardt, RP19 and CORD3 diseases.
- Current FDA approved therapeutics for Wet AMD include intravitreal injection of either Ranibizumab or Aflibercept, which are anti-VEGF therapies.
- As of February 24, 2026, our global intellectual property portfolio contains 80 patents and 66 pending patent applications related to composition of matter, pharmaceutical compositions, methods of use for our product candidates, and other proprietary technology including those under our licensing and development arrangements.
Partnerships
- Louis ("Washington University") with respect to mucosal COVID-19 vaccines in the United States, Canada, Europe, Japan, South Korea, Australia, China, and Hong Kong (the "Mucosal Vaccine Territory"), and the license agreement with the University of Colorado ("CU") pursuant to which we acquired rights to the transferrin-tumstatin fusion protein technology used in our OCU200 product candidate.
- We have established a partnership with CanSino Biologics, Inc. ("CanSinoBIO") for our modifier gene therapy platform.
Legal & Regulatory Risks (Item 1A, quoted)
- We are currently, and may in the future be, subject to securities litigation, which is expensive and could divert management attention.
- The cost of defending against these types of claims against us or the ultimate resolution of such claims, whether by settlement or adverse court decision, may divert management's attention and harm our business.
- Our employees, independent contractors, consultants, commercial partners, principal investigators, or CDMOs may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
- Risks Related to Our Intellectual Property
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| LGND | Ligand Pharmaceuticals Incorpor | USD 311.24 | ▲ 1.11% |
| RYTM | Rhythm Pharmaceuticals, Inc. | USD 89.87 | ▼ 1.13% |
| IOVA | Iovance Biotherapeutics, Inc. | USD 14 | ▼ 1.03% |
| PRAX | Praxis Precision Medicines, Inc | USD 255 | ▼ 1.51% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 43.1 | ▼ 1.84% |
| ABVX | Abivax SA | USD 88.26 | ▼ 2.18% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 16:19 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt