Ocugen Inc (OCGN) Stock Breakout Again: Will it Hit $20 This Week?

There is no doubt that a lot of traders are talking about Ocugen Inc (NASDAQ: OCGN) stock after the recent rally. This morning, the stock extended its winning streak after the news that the company’s COVAXIN may be effective against three key variants of SARS-CoV-2.

This morning, the company announces that in a new study, scientists have found that Covaxin demonstrated potential effectiveness against the Brazil variant of SARS-CoV-2, B.1.128.2.

Previous studies have also suggested that Covaxin was effective against the U.K. variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617.

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Trials conducted by the Indian Council of Medical Research show Covaxin-vaccinated sera effectively neutralized variants in an in-vitro plaque reduction neutralization assay.

Recently, in the second interim results of the Phase 3 trial, Covaxin showed 78% overall efficacy and 100% in severe COVID-19 disease.

OCGN stock has soared all the way from $5.50 to $15.80 – a jump of 188% in a matter of 2 weeks. Moreover, the stock is now 20% away from its 52-week high.

So overall, OCGN stock is in good momentum and may extend its rally. But be careful as we may high volatility after the recent run-up.

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Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life