Ocugen (OCGN): Good Time To Book Profit After Monster Rally?

The coronavirus pandemic seems to have returned once again and cases are rising in the United States at an alarming rate. Hence, it is no surprise that Ocugen (NASDAQ: OCGN) is in focus among investors.

Over the course of the past two weeks, the stock has rallied by as much as 950%, and yesterday, it gained 68%. Hence, it is likely to be in focus among investors this morning as well.

The rally in the Ocugen stock came about after an announcement from its India based partner Bharat Biotech. Bharat Biotech announced that its COVID-19 vaccine has been awarded an emergency use authorization.

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Although there has been some controversy, the regulatory authorities have approved the Bharat Biotech COVID-19 vaccine product named Covaxin. Ocugen is the partner for Bharat in the United States and hence, it has had an effect on the company’s stock. Investors could do well to keep an eye on the Ocugen stock this morning.

Jack Dawkins

Finance and Tech Contributor