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OCUGEN INC (OCGN)

Health Care · Biotechnology · NASDAQ

Ocugen is a clinical-stage biotechnology company developing gene-agnostic modifier gene therapies to address significant unmet medical needs in blindness and retinal diseases.

What OCUGEN INC does

Ocugen is a biotechnology company focused on developing and commercializing gene therapies for blindness diseases. Its core technology is a modifier gene therapy platform that uses nuclear hormone receptors to provide a gene-agnostic approach to treating various inherited retinal degenerations and age-related eye conditions. The company's pipeline includes late-stage clinical programs targeting retinitis pigmentosa, Stargardt disease, and geographic atrophy.

Recent developments

Ocugen recently received FDA clearance for the Phase 3 ArMaDa3 trial of OCU410 for geographic atrophy and was granted RMAT designation for the program. The company also closed a $130 million convertible senior notes financing, extending its cash runway into 2028, and signed a binding term sheet to license OCU400 in the MENA region. Additionally, Mohamed Genead, M.D. was appointed as Chief Medical Officer.

From OCUGEN INC's filing of 2026-08-06.

Themes: gene therapy, orphan diseases / rare diseases, retinal degeneration, vision loss / blindness, ophthalmology, modifier gene therapy

Fundamentals

  • Price$0.9774 as of 2026-10-08 close
  • Market cap$331M as of 2026-07-31 (share count; price 2026-10-08)
  • 1-year return-45.4% 2025-10-08 close $1.79 → 2026-10-08 close $0.9774
  • P/En/a negative earnings
  • Net margin-1537.4% FY2025, SEC XBRL
  • Debt / equity5.03 as of 2026-09-02
  • Revenue growth (YoY)+0.4% as of 2026-09-02
  • Revenue CAGR (3y)+21.0% SEC XBRL
  • Beta1.38 as of 2026-09-02
  • Last reported earnings2026-08-06 SEC EDGAR Form 8-K (Item 2.02)

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How OCGN compares in its sector

  • net profit marginbottom 10% 430 covered Health Care peers, as of 2026-09-02
  • operating marginbottom 10% 417 covered Health Care peers, as of 2026-09-02
  • 3-year revenue CAGRmiddle range 402 covered Health Care peers
  • free cash flow (absolute dollars, latest fiscal year)middle range 494 covered Health Care peers, as of FY2025

Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.

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How OCUGEN INC looks technically

OCUGEN INC (OCGN) is trading 34.2% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 80 trading days ago — a "death cross", a bearish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 19, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 37, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bullish about 8 trading days ago (its momentum flipped positive). It just made a new 20-day low, breaking below its recent trading range. It is 1.8% above its 52-week low (its lowest price of the past year). Day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 2% of the past ~6 months), which often precedes a bigger move.

Trend

8
Distance from the 200-dayit is trading 34.2% below its 200-day average, the long-term trend line — a long-term downtrend-34.2%
50-day moving averageits average price over the last 50 trading days — a short-term trend line — is $1.20$1.20
200-day moving averageits average price over the last 200 trading days — the long-term trend line — is $1.49$1.49
Swing structureeach recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes nextlower highs and lower lows
Last swing turnits last significant turn was a swing low 22 calendar days ago — the swings before that are what the structure reading is measured on22 sessions
Wave structureits recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 0.97. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a five-part sequence in leg 4.possible three-wave downward correction, complete (one of several readings)
Since the 50/200 crossits 50-day average crossed below its 200-day average about 80 trading days ago — a "death cross", a bearish long-term signal80 sessions
Trend strength (14-day ADX)there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 19, below the 25 that marks a real trend)19.2

Momentum

3
14-day RSImomentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 37, neither overbought (above 70) nor oversold (below 30)36.6
Position in its 14-day rangeit is trading near the bottom of its 14-day range ($0.9601 to $1.12) — its "stochastic" reading is 11 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions.10.8
Since the MACD crossed zeroMACD, a trend-momentum gauge, turned bullish about 8 trading days ago (its momentum flipped positive)8 sessions

Range

12
52-week highits highest closing price over the past year (about 252 trading days) was $2.72$2.72
From the 52-week highit is 64.1% below its 52-week high (its highest price of the past year)-64.1%
Above the 52-week lowit is 1.8% above its 52-week low (its lowest price of the past year)+1.8%
Below the 52-week highit is 64.1% below its highest point of the past year64.1%
Since a 20-day breakoutit just made a new 20-day low, breaking below its recent trading range1 session
Since a 55-day breakoutit just made a new 55-day low, breaking below its recent trading range1 session
All-time highits highest closing price on record is $778.20 (set on 2014-12-03)$778.20
Given back of the 52-week moveover the past year its closes ranged ($0.9774 to $2.48), and it has recovered essentially none of its fall from last year’s high — 0% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $1.91 to $1.95. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast.0.0%
From the all-time highit is 99.9% below its all-time high-99.9%
Nearest price levelit is trading 0.5% above a support level at $0.9725 — a price it turned at four times since 2025-07-18, most recently on 2026-09-24. Since 2024-10-08 it has 5 such levels below the current price and 6 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go.-0.5%
All-time lowits lowest closing price on record is $0.17 (set on 2020-06-01)$0.17
Above the all-time lowit is 474.9% above its all-time low+474.9%

Volatility

5
Band width vs its own 6 monthsday-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 2% of the past ~6 months), which often precedes a bigger move2nd percentile
Typical daily rangein a typical session it travels about $0.0657 between its high and its low — about 6.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was$0.0657
Bollinger bands (20-day, ±2σ)most of its recent trading has stayed between about $0.97 and $1.08 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles$0.97 – $1.02 – $1.08
Typical daily range (% of price)its price moves about 6.7% in a typical session — more volatile than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price6.7%
Stretch from the 200-day averageit is trading 7.7 daily ranges below its 200-day average price (34.2% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale7.7 daily ranges below its 200-day average

Volume

1
Volume vs its 30-day averagetrading volume is about normal versus its 30-day average1.61×

Analyst

2
Change in the average price targetanalysts have raised their average price target by 0.7% since the prior reading+0.7%
Change in the consensus ratingthe analyst consensus rating is unchanged since the prior readingunchanged

Candlestick patterns

1
Since a bearish engulfing6 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it6 sessions ago

Price gaps

3
Gap at the openit opened on 2026-10-08 1.0% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close+1.0%
Open gapit gapped 2.0% below the previous close 34 sessions ago and has not traded back through the level it left behind at 1.48 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed-2.0%
Gap filleda 4.0% gap up opened on 2026-10-02 has been "filled" 3 sessions ago — price traded back through the level the gap left behind, and it took 1 session to close3 sessions ago

Price streaks

1
Closing streakit has closed lower 2 sessions in a row, a -6.02% move over the run — an unbroken run of down days, which describes what has already happened and says nothing about the next session2 sessions down

Relative strength

4
vs market, 1 monthover the past 1 month this stock lagged the market by 27.6 percentage points (the stock lost 26.5% while the market gained 1.0%)-27.6%
vs market, 3 monthsover the past 3 months this stock lagged the market by 38.7 percentage points (the stock lost 34.8% while the market gained 3.8%)-38.7%
vs market, 6 monthsover the past 6 months this stock lagged the market by 62.2 percentage points (the stock lost 44.8% while the market gained 17.5%)-62.2%
vs market, 12 monthsover the past 12 months this stock lagged the market by 60.4 percentage points (the stock lost 45.4% while the market gained 15.0%)-60.4%

Signal agreement

2
Bullish technical signals2 of the 9 technical signals we can compute for it are currently in a bullish state: MACD momentum is positive, near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast2 of 9
Bearish technical signals5 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast5 of 9

Trend (Ichimoku cloud)

1
Vs the Ichimoku cloudtrading 28% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 8.2% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross.-27.6%

Volume-weighted price

2
Vs this year’s average price paidthe price is 37% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $1.55 — a volume-weighted average of daily closes over 193 sessions, not a true tick-by-tick VWAP.-37.0%
Vs the average paid since it last reportedthe price is 13% below the average price paid since it last reported on 2026-08-06 (its 10-Q), so the typical buyer over that stretch is under water. That average is $1.12 — a volume-weighted average of daily closes over 45 sessions, not a true tick-by-tick VWAP.-12.8%

Price levels it has turned at before

OCGN last closed at $0.9774 on 2026-10-08. Since 2024-10-08 it has turned at 5 prices below its last close and 6 above; the 3 nearest below and the 3 nearest above are listed, nearest first.

LevelSideDistanceEvidence
$0.9725Support0.5% below the last closeturned there four times · 2025-07-18 to 2026-09-24
$0.8965Support8.3% below the last closeturned there twice · 2024-10-24 to 2025-07-02
$0.8Support18.1% below the last closeturned there twice · 2025-03-28 to 2025-06-02
$1.17Resistance19.7% above the last closeturned there three times · 2025-07-24 to 2026-07-29
$1.28Resistance31.0% above the last closeturned there three times · 2025-06-16 to 2026-08-31
$1.48Resistance51.1% above the last closeturned there three times · 2025-10-22 to 2026-08-19

A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.

Wave structure

Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.

This labelling fails — stops being a possible reading at all — if it closes below $0.97.

This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.

Alternate reading: The same swings also read as a five-part sequence in leg 4, which fails on a close above $1.17.

This reading has stood for 12 trading days, since 2026-09-23.

Read from daily closes as of 2026-10-08.

An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.

Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.

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Analyst consensus

  • Consensus ratingStrong Buy (1.17 mean, 1=Strong Buy…5=Strong Sell) — 6 analysts
  • Mean price target$12.17 range $8.00 – $22.00; median $10.50

Analyst estimates, as of 2026-10-04. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.

Analyst EPS estimate for OCGN

  • Consensus EPS estimate-$0.05333 next reporting period, as of 2026-10-04
  • Estimate change, 30 days$0.00 from -$0.05333, on 2026-08-30, 35-day window
  • Readings revised upward0% of 7 comparable readings

The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.

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Key risks (from latest filing)

["Significant history of losses and negative cash flows with substantial doubt regarding ability to continue as a going concern.","Need for substantial additional capital to fund clinical development and commercialization efforts.","Risks associated with reliance on clinical trial success for regulatory approval of product candidates."]

See OCGN's biggest risks from its latest 10-Q →

What changed in the latest 10-Q

AI-assisted comparison of OCGN's 10-Q filed 2026-05-08 against the prior one filed 2025-11-05.

Management's Discussion & Analysis (MD&A)

  • Added:
    • Reference to 'audited financial statements for the year ended December 31, 2025' instead of 2024 (2026-05-08 filing)
    • Positive long-term, 3-year Phase 1/2 data for OCU400 announced, showing consistent clinically meaningful approximately 2-line LLVA gain across mutations (2026-05-08)
    • 88% (7/8) of evaluable treated subjects showed improvement or preservation versus untreated fellow eyes over 3 years (2026-05-08)
    • Approximately 2-line gain (N=8) observed across multiple mutation types at 3 years (2026-05-08)
    • OCU400 Phase 3 liMeliGhT enrollment completion announced with N=140 subjects (2026-05-08)
    • Rolling BLA submission expected to begin Q3 2026, with completion by Q2 2027 (2026-05-08)
    • Topline Phase 3 data expected in Q1 2027, with potential approval in Q4 2027 (2026-05-08)
    • Specific timing for OCU410ST BLA submission stated as 'mid-2027' (2026-05-08)
    • Strategic goal changed to 'filing three BLAs by 2028' (2026-05-08)
    • November 2024 EMA OMPD designation for OCU410ST mentioned with specific indication details (2026-05-08)
    • May 2025 FDA RPDD for OCU410ST announced (2026-05-08)
    • January 2026 publication of Phase 1 GARDian1 Trial results for OCU410ST (2026-05-08)
    • OCU410ST Phase 1 trial showed 54% slower atrophic lesion growth at 12 months (2026-05-08)
    • 1-line BCVA gain demonstrated in OCU410ST Phase 1 trial (2026-05-08)
    • 100% of evaluable treated eyes showed stabilization or improvement in OCU410ST Phase 1 (2026-05-08)
    • 116% slower ellipsoid zone loss in OCU410ST-treated eyes compared to untreated fellow eyes (2026-05-08)
    • April 2026 announcement of early completion of OCU410ST Phase 2/3 dosing (N=63 subjects) in less than 9 months (2026-05-08)
    • March 2026 positive 12-month topline data from OCU410 Phase 2 ArMaDa trial (2026-05-08)
    • 31% reduction in lesion growth in optimal dose (medium) group for OCU410 (p<0.05) (2026-05-08)
    • 27% slower rate of ellipsoid zone loss for OCU410 indicating photoreceptor structural preservation (2026-05-08)
    • 55% of treated patients demonstrated ≥30% lesion size reduction for OCU410 versus control (2026-05-08)
    • Subgroup analysis showing 33% reduction in lesion growth for OCU410 in medium dose with baseline GA lesions ≥5 mm² and ≤17.5 mm² (2026-05-08)
    • No OCU410-related serious adverse events observed in Phase 2 trial (2026-05-08)
  • Removed:
    • Statement that Phase 3 liMeliGhT enrollment was 'actively recruiting' and 'on track to complete enrollment in support of our target BLA and MAA filings in 2026' (2025-11-05)
    • Statement about strategic goal of 'filing three BLAs over the next three years' (2025-11-05)
    • Statement that OCU410ST BLA would be submitted 'in 2027' with less specificity (2025-11-05)
    • Mention that modifier gene therapy platform 'has the potential to address multifactorial retinal diseases including dry age-related macular degeneration (dAMD)' in OCU410ST section (2025-11-05)
    • Reference to 'Stargardt disease' terminology variations (2025-11-05)
    • Details about OCU200 novel biologic therapy for retinal diseases (2025-11-05)
    • Details about regenerative medicine cell therapy platform including NeoCart (2025-11-05)
    • Details about inhaled mucosal vaccine platform including OCU500, OCU510, and OCU520 (2025-11-05)
    • Details about 2025 Registered Direct Offering (2025-11-05)
  • Reworded:
    • Reference year changed from 'December 31, 2024' to 'December 31, 2025' in opening paragraph (2026-05-08 vs 2025-11-05)
    • Reference changed from '2024 Annual Report' to '2025 Annual Report' (2026-05-08 vs 2025-11-05)
    • Reference changed from '2025 Quarterly Reports' to specific reference to 'Risk Factors' section in newer filing (2026-05-08 vs 2025-11-05)
    • Ordering of regulatory approvals for OCU410ST rearranged with November 2024 OMPD now preceding May 2025 RPDD announcement (2026-05-08 vs 2025-11-05)
    • Changed 'Stargardt disease' to 'ST' abbreviation usage in several places (2026-05-08)
    • Reference to CHMP review of 'Stargardt disease' changed to 'ST' in August 2025 announcement (2026-05-08 vs 2025-11-05)
  • Notes:
    • The newer filing covers the quarter ended March 31, 2026, while the older filing covers the quarter ended September 30, 2025, resulting in expected content differences reflecting clinical trial progression
    • The older filing text appears truncated at the end, potentially omitting additional content from the older MD&A section

AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.

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Insider activity (SEC Form 4)

0 open-market purchases and 2 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.

  • Last 90 days · read to 2026-10-040 buys · 2 sells ($589110) — 1 selling insider
  • Last 180 days · read to 2026-10-041 buy ($25830) · 2 sells ($589110) — 1 buying, 1 selling insiders

Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)

Most recent open-market transaction: 2026-09-09. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.

View full insider trading history → View SEC Form 3/4/5 filings

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Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.

Institutional ownership (13F)

4 institutional 13F filers reported holding OCGN as of 2026-06-30 (quarter-end position, filed within 45 days).

  • Distinct 13F filers 4
  • Reported shares held 50,789,562
  • Reported value $77,708,031

reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 3 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".

Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.

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Short interest (FINRA)

OCGN had 106,062,298 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).

OCGN had 31.3% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 10.39 days to cover at the same settlement.

  • Reported short interest (shares) 106,062,298
  • Short interest (% of shares outstanding) 31.3%
  • Prior settlement (shares) 98,309,421
  • Reported change 7.89%
  • Days to cover (reported) 10.39

Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.

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Competitors & peers

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Frequently asked questions

What does OCUGEN INC (OCGN) do?

Ocugen is a biotechnology company focused on developing and commercializing gene therapies for blindness diseases. Its core technology is a modifier gene therapy platform that uses nuclear hormone receptors to provide a gene-agnostic approach to treating various inherited retinal degenerations and age-related eye conditions. The company's pipeline includes late-stage clinical programs targeting retinitis pigmentosa, Stargardt disease, and geographic atrophy.

What sector is OCUGEN INC (OCGN) in?

OCUGEN INC (OCGN) is classified in the Health Care sector. Its industry is Biotechnology. It trades on NASDAQ.

Who are OCUGEN INC's (OCGN) competitors?

Notable peers of OCUGEN INC (OCGN) include Regenxbio, Editas Medicine, Intellia Therapeutics, CRISPR Therapeutics and Bluebird Bio. This peer set is informational only — not financial advice.

Is OCUGEN INC (OCGN) overbought or oversold right now?

OCUGEN INC (OCGN) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 37, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.

Where does stocks-llm's data on OCGN come from?

Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.

Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.

Last updated 2026-10-08.

Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.