(See OCGN stock analysis on TipRanks). Malvern-based biopharmaceutical company Ocugen completed its previously announced $100 million private stock sale. Weve now already seen a 50% correction in the stock price, with shares changing hands around 46 cents per share. The agreement stipulates Ocugen will hold the vaccines U.S. rights, and the remaining details are expected to be finalized over the coming weeks. After encouraging preliminary results, Ocugen began trying to sell 100 million doses of the vaccine in February. UPDATE 1-Soccer-Traore on target as Wolves stun wasteful Spurs, Peruvian communities to resume blockade of crucial "mining corridor", One student loan forgiveness effort 'hasnt gotten the attention it deserves': expert, RPT-Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, Soccer-Traore on target as Wolves stun wasteful Spurs. Instead of buying a piece of the S&P 500 or Nasdaq or even better, a common sense mega-holding like Apple (NASDAQ:AAPL) or Amazon investors in OCGN stock took on a high-risk investment and for months saw negative returns. Do not expect a recovery in Ocugen stock. That doesnt mean success is guaranteed. Admittedly one could argue that it could have been bought for a quarter and sold for 75 cents, but hindsight is 20/20 in all of these names. Ocugen sold $25 million of stock in a private placement before the merger. Now, with the stock trading near the 40-cent per share level, its prospects have taken a dramatic turn for the worse. This is most likely a result of the stocks meteoric rise and analysts inability to turnaround new price targets so quickly. Nasdaq What Is the Best EV Stock to Buy Now? Still, Ocugen investors who bought one year ago and held on have generated a huge return on their. It peaked at a split-adjusted level of around $778 per share soon after its initial public offering in 2014. OCGN Stock Price | Ocugen Inc. Stock Quote (U.S.: Nasdaq) - MarketWatch The S&P 500 has rallied 52.9% from the March low to its highs on August 6. Maybe. Those reverse splits generally are poorly received by the market, even if in theory they should have little to no practical impact on trading. As of this writing, Vince Martin has no positions in any securities mentioned. Do Not Sell My Personal Information (CA Residents Only). Covaxin doesn't have an advantage in terms of dosing compared to these leading vaccines. The Motley Fool->. The worst news was that another late-stage clinical study will likely be required to support the regulatory filing. Written by Why Ocugen Stock Dropped Today | The Motley Fool - Nasdaq To make the world smarter, happier, and richer. If youre not convinced by now, maybe you will consider OCGN stock a poor investment when looking at the fundamentals. Pricing likely would be favorable, given the lack of alternative treatments. According to the prospectus, the combined company posted an operating loss of roughly $30 million in 2018. The FDA gave a thumbs-down to Ocugen's EUA request for the pediatric use of Covaxin. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. These options will be cheaper than owning the stock itself. Copy and paste multiple symbols separated by spaces. This can prove to be a costly lesson to learn. Under the terms of the agreement, Ocugen is entitled to 45% of the profits from the commercialization of Covaxin in the U.S. and Canada. All rights reserved. Remember, though, that Moderna achieved this while working closely with the U.S. government (including receiving funding from Uncle Sam) and during a period when vaccines weren't widely available. That's right -- they think these 10 stocks are even better buys. 7 Travel Stocks to Buy Banking On Pent-Up Demand. The average price target among the five analysts covering the stock is $6, suggesting 27.9% downside from current levels. Article printed from InvestorPlace Media, https://investorplace.com/2019/12/no-pathway-forward-for-ocugen-stock/. Sign up below to get this incredible offer! Conditions have only become worse since that time. The newly renamed Ocugen stock kept declining through year-end, but has managed to stage a bit of a rally in 2020, gaining 15% year-to-date. Even before that point, the most promising candidates generally can find funding. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Not an offer or recommendation by Stocktwits. All rights reserved. (To watch Ramakanths track record, click here), In contrast, all 3 other analysts who have recently posted an Ocugen review rate the stock a Buy. That's not going to happen now. Making the world smarter, happier, and richer. Just a few days ago, Ocugen (NASDAQ: OCGN) was flying high with shares up more than 460% year to date. Here are three prudent steps to take. That said, for investors who understand the potential downside, there is an intriguing story here. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Ocugen stated in a press release that it plans to "continue working with the FDA to evaluate the regulatory pathway for the pediatric use of Covaxin." The Ocugen 52-week low stock price is 0.93, which is 1.1% below the current share price. On its first trading day as OCGN stock, it lost almost 64% of its value and closed that day at $2.85 per share. Its worth emphasizing: Ocugen stock is a play with enormous risk. Theres an opportunity here. The next key catalyst for the biotech stock could be the announcement of the details of the plan to win EUA for Covaxin in the U.S. market. Start trading Options with Saxo today. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Ocugen to Present at the 2018 BIO International Convention | Ocugen, Inc. MALVERN, Pa., May 29, 2018 /PRNewswire/ -- Ocugen, Inc., a rapidly growing ophthalmology company developing a rich clinical pipeline of innovative therapies that address rare and underserved ocular diseases, today announced that it will present at the 2018 BIO International Convention, taking place June 4-7, 2018, in Boston. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Concerns about the delta variant, the potential need for annual booster shots and the possibility of expanding the vaccines to children have investors hopeful that Covaxin will still eventually be a huge payoff for Ocugen. How long might it take for Ocugen to win full FDA approval for Covaxin? The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. ET by MarketWatch Automation Ocugen Inc. stock falls Tuesday, underperforms market Feb. 21, 2023 at 5:14. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The Ocugen deal is a way to salvage some limited value. Ill be sticking to the stocks that are actually working. It is very important to do your own analysis before making any investment. In that list, you can even include penny-stock trader. The company has a gene therapy platform as well as two preclinical compounds that aim to treat retinal diseases. Is Ocugen Stock Still Worth Buying After Its 800%-Plus Rally? Analyst Ocugen Inc Stock - OCGN Share Price Today, News and Discussion - Stocktwits The stock had gained some traction after they announced the. Its top officers have experience at Pfizer (NYSE:PFE) and other well-respected pharmaceutical and biotechnology companies. Written by The sale of NeoCart, which still is pending, can bring in another $8 million, based on the current agreement. The $25 million private placement executed before the merger brought in much-needed cash. 2023 InvestorPlace Media, LLC. Even though Ocugen did raise $25 million in a private placement, the story behind OCU300 clearly was not enough to support an initial public offering on its own. However, an EUA in India doesn't mean that Covaxin is a slam dunk to win EUA in the U.S., as well. *ALL INFO ABOUT THE BIKE AND GEAR USED DOWN BELOW**If not listed it's left stock*BIKE: 2018, BMW R NINET SCRAMBLER.EXHAUST: Akrapovic Headers, Uni. As of this writing, Matt did not hold a position in any of theaforementioned securities. It brings in no revenue. Investors who have owned stocks in the last year have generally experienced some big gains. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Plus500. Type a symbol or company name. If You Invested $1,000 In Ocugen Stock One Year Ago, Here's - Insider Ocugen had to go an unusual route to go public. Realistically, Ocugen is probably looking at potential approval of Covaxin in mid-2023 at the earliest. But realizing value in practice usually is a difficult endeavor. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. Create your Watchlist to save your favorite quotes on Nasdaq.com. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now and Ocugen, Inc. wasn't one of them! Generally, financial analysts struggle with this sector because these equities rise and fall not on revenue or earnings, but the success of clinical trials. Until July 20, when OCGN stock jumped about 20%, shares were down 21% from the March low. If it goes down, your loss won't be as great as it would be if you held onto all of your shares. For example, after the FDA revised its guidelines for the EUA process for COVID-19 vaccines, Ocugen's CEO stated, "Since we have been in discussions with the FDA since late last year, we do not believe that the FDA's recently revised guidance regarding EUAs raises any concerns about our ability to submit the EUA for Covaxin as planned." 1125 N. Charles St, Baltimore, MD 21201. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. There's still a chance that the vaccine could receive a green light in Canada. quotes delayed at least 15 minutes, all others at least 20 minutes. OCGN - Ocugen Inc Forecast - CNNMoney.com - CNN Business When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Matthew McCall left Wall Street toactually helpinvestors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Over the next few weeks, Ocugen is expected to meet with the FDA to discuss how to advance COVAXINs development. Like Pfizer's BNT162b2 and Moderna's mRNA-1273, it requires two doses. Shares of Ocugen ( OCGN -3.10%) fell on Tuesday after an analyst sounded a note of caution to investors. Matt McCall and the InvestorPlace Research Staff, statistics support having long-term exposure, Click here to see what Matt has up his sleeve now, There Are So Many Stocks to Buy Ocugen Isnt One of Them. But just because a company does not have crippling debt doesnt mean its a buy. The reverse merger with Histogenics was a disappointment, but the purchase price for the NeoCart intellectual property suggests that company had little chance of survival on its own. If OCU300 is approved, theres a reasonably large market. Copyright Invest better with The Motley Fool. It has no treatments to offer the market. Type a symbol or company name. The Motley Fool has a disclosure policy. In fact, $1,000 in Ocugen stock bought on Aug. 9, 2020, would be worth about $15,100 today. CanSinoBio will be able to fund much of the development of OCU300, Ocugens flagship product that targets oGVHD (ocular graft versus host disease), a common complication of bone marrow transplants. Source: Chart courtesy of StockCharts.com. Our 3 Top Picks. To be sure, current cash isnt enough. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The OCGN stock forecast 2022 outlook suggests that Ocugen's stock may struggle in the short term. Bharat Biotech has a history of successful vaccine commercialization in South Asia. COVID-19 vaccines from Pfizer and Moderna are already on the market in the U.S. with efficacy levels of 94% or greater. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Please check your download folder. Investors need to understand the risk profile here. Probably the most important thing to do after Ocugen's crash, though, is to identify lessons learned and apply them to future investing decisions. The Motley Fool has no position in any of the stocks mentioned. And its at least possible that OCGN could wind up being a winner. Ocugen Inc. is a clinical stage biopharmaceutical company. Shares declined 85% in three sessions around the closing of the merger, which also included a 1-for-60 reverse stock split. As of 1:37 p.m. EST, the biopharmaceutical company's stock price was down more than 15%.. For now, though, what happens in India stays in India. It is focused on discovering, developing and commercializing therapies which address rare and underserved eye diseases. The stock ultimately hit its 2020 low on June 1 at a price of just 17 cents. Unfortunately, when the market bounced in late March 2020, Ocugen kept heading lower. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Ocugen completes $100M stock sale as it works with Bharat Biotech on Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. I will just say this on Ocugen: Theres a reason it trades for sub-$1 after hitting resistance near $180 in 2018. Moreover, Histogenics existed to treat orthopedic conditions, while Ocugen focused on rare eye diseases. There's no way, however, to know what the COVID-19 vaccine market dynamics will be two years from now. In November, Bharat Biotech began Phase 3 testing of Covaxin in India. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Shares fell 72% on the news, and kept falling after Histogenics decided to suspend development of the product in December 2018. OCGN Stock Forecast 2022 and 2025: Is Ocugen Set to Explode? Ocugen shares jumped to $3.50 on massive volume in December when the Covaxin partnership was announced. CEO Shankar Musunuri stated that he was "pleased to say" that Ocugen was in discussions with the FDA about the data it had submitted for the pediatric EUA. Unfortunately for longs, OCGN is much closer to the worst of conditions. Cassava Sciences (NASDAQ:SAVA) has soared 454% in just the last three months. 86% of retail CFD accounts lose money, Benzinga's Top Ratings Upgrades, Downgrades For March 1, 2023, Ocugen upgraded at Chardan citing attractive entry point ahead of catalysts, Analysts Are Bullish on These Healthcare Stocks: Theratechnologies (THTX), Ocugen (OCGN), Ocugen (OCGN) Gets a Buy from H.C. Wainwright, Mizuho Securities Sticks to Their Buy Rating for Ocugen (OCGN), Ocugen (OCGN) Q4 2022 Earnings Call Transcript, Why Catalyst Biosciences Shares Are Trading Higher By 105%; Here Are 20 Stocks Moving Premarket, Registration on or use of this site constitutes acceptance of our. Shares of Ocugen ( OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based. The market capitalization of Relmada Therapeutics (NASDAQ:RLMD) went from under $10 million at the end of 2017 to over $500 million at the moment. Ocugen: Peripheral Scandals Taint This Expired COVID-19 'Me-Too' Longshot Keith Speights has no position in any of the stocks mentioned. At the time, Ocugen was left for dead. A bout of buying in late July sent shares from 20 cents apiece to above 90 cents a share a few days. Histogenics shareholders then received about 14% of the company, according to the merger prospectus. See disclosure here. Copyright For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide. The latest closing stock price for Ocugen as of March 03, 2023 is. The company is led by CEO and Co-founder, Shankar Musunuri, and entered into the public equity market in 2019 via. Copy and paste multiple symbols separated by spaces. If Ocugen goes up, you can still profit. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. In the late summer of 2018, the stock crashed below $1 per share as investors sold off following a failed phase three trial. You never know when they will suddenly go on a squeeze. The simplest thing to do is to hang onto the stock and hope that it recovers sooner or later (which is a possibility). An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen ( OCGN) stock took on a new life on December 22, when it announced. More importantly, the 5-star analyst added, COVAXIN also induces comparable levels of neutralizing antibodies to those in human convalescent serum," which, the analyst believes," bodes well for the success of the ongoing Phase 3 trial in India.. Still, this stock is cheap for reasons that my colleague Josh Enomoto spelled out well. Click here to see what Matt has up his sleeve now. It's likely that the company will take longer to file for full FDA approval of the vaccine than Moderna will. Almost all the headlines about Ocugen in the past year have been about the companys COVID-19 vaccine candidate. Emergency Use Authorization (EUA) for Covaxin, the COVID-19 vaccine developed by Ocugen's partner, Bharat Biotech. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth. The first is that Ocugen is facing potential delisting from the NASDAQ given that its share price still sits well below $1. *Average returns of all recommendations since inception. Accordingly, the analyst rates OCGN a Neutral (i.e. Bharat's offering COVAXIN, a whole-viron inactivated COVID-19 vaccine candidate, has already shown promise in Phase 1 and 2 clinical trials in India and the enrollment of 26,000 subjects for the Phase 3 study is currently underway. It has real products. Ocugen stock jumps following positive Covid vaccine study results So far, that merger hasnt worked out for Histogenics former shareholders. But the allure of the space is that when a company wins, its shareholders win big. 1125 N. Charles St, Baltimore, MD 21201. Still, Ocugens balance sheet isnt as dire as its share price might suggest. Ramakanth believes the broad immunity targeting different components of the virus could potentially provide better protection against emerging mutant viruses, such as the one currently circulating in the UK. With this in mind, in the Phase 1 study, COVAXIN has shown robust antibody responses against spike (S1) protein, receptor-binding domain (RBD) and the nucleocapsid (N) protein of SARS-CoV-2. Hence, instead of ruining just two lives, this new Ocugen may be destroying the investment future of all who buy. And while Ocugen will need more capital at some point, the company at least has time to push OCU300 forward and get its story out to investors. Ocugen In 2021, Beyond: Optimism about Covaxin coupled with massive short squeezes in a handful of popular social media stocks sent Ocugen shares skyrocketing up to as high as $18.77 in February 2021. Why Ocugen Stock Is Crashing Today | The Motley Fool - Nasdaq It took Moderna roughly 10 months from the initiation of the late-stage study for its COVID-19 vaccine to the point where the company filed for full FDA approval. The company stated that it will pursue a path to file for full FDA approval of Covaxin. Objective investors could have clearly seen then that there actually were significant reasons to be concerned. Other than an emphasis on cell therapies, the companies had almost nothing in common. Axsome Therapeutics (NASDAQ:AXSM) had an equity value below $75 million in March 2017; its now worth over $3 billion after rising over 1,000% last year. Theres even room for more lines. Cost basis and return based on previous market day close. However, sometimes the optimism isn't justified. It's easy to become such a huge fan of a stock that you lose objectivity about its prospects. 10 stocks we like better than Ocugen, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Ocugen Inc. stock rises Wednesday, outperforms market Feb. 22, 2023 at 5:14 p.m. It announced on Dec. 9 of last year 17 months later that it was 50% through enrollment. Its certainly possible. The stock had gained some traction after they announced the Ocugen merger in April. Ocugen Stock Crashes: What Should Investors Do Now? The Motley Fool recommends Moderna Inc. In other words, it means that even by biotech standards OCGN stock is an enormously risky play. I will concede this: The one great thing about the stock market is there is a style for everyone. Type a symbol or company name. Honestly, OCGN stock is unlikely to survive. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Create your Watchlist to save your favorite quotes on Nasdaq.com. market." However, the marriage of Histogenics and Ocugen looks destined to end in a suicide pact instead of a mere divorce. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. While it feels cool to buy a thousand shares of OCGN stock vs. a few shares of Amazon (NASDAQ:AMZN), save yourself the heartache. Considering the conditions facing the company, I do not recommend Ocugen stock regardless of risk tolerances. The median estimate. That product drives the current bull case for Ocugen stock. You can be a growth investor, futures trader, deep-value investor, a day trader, options player, or a dividend aficionado. There Are So Many Stocks to Buy Ocugen Isn't One of Them The firm's modifier gene therapy platform is engaged in addressing retinal diseases, including retinitis pigmentosa, leber congenital amaurosis, and dry age-related macular degeneration. In 2018, its NeoCart biologic failed to meet the primary endpoint of its own Phase III trial. These symbols will be available throughout the site during your session. The all-time high Ocugen stock closing price was, The average Ocugen stock price for the last 52 weeks is. The average Ocugen stock price for the last 52 weeks is 2.10. Shares of Ocugen (OCGN) skyrocketed over 800% in the past three trading sessions after the biopharmaceutical company disclosed it had signed a binding letter of intent (LOI) with India based Bharat Biotech to co-develop a COVID-19 vaccine for the U.S. market. Ocugen does have at least 180 days to cure that problem, but the simplest answer is for the company to execute a reverse stock split. Ocugen - Stock Price History | OCGN | MacroTrends As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. In December, Ocugen stated that it had put together an advisory board of "leading academic and industry experts to evaluate the clinical and regulatory path to approval in the U.S. Today, the stock has a $1.6 billion market cap despite just $42,620 in 2020 revenue. It has real management. For most of its history, what we now know as Ocugen stock was Histogenics, a cell therapy company focused on orthopedics. All rights reserved. Copyright 2023 InvestorPlace Media, LLC. The Nasdaq has been even more impressive, rallying 67.7% in the same time frame and hitting new all-time highs in the process. OCGN Ocugen Inc 155,223 $0.9721 $0.0263 (2.63%) Ocugen abandoned its pursuit of a U.S. EUA for Covaxin in immunizing adults last year. Our 3 Top Picks. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Don't Get Greedy With Ocugen Stock, Says Analyst The stock dropped as low as 26 cents during the height of the pandemic fears in March 2020. At the beginning of 2020, Ocugen shares were trading at just 47 cents. With no effective treatments, and without a clear reason to exist, I would avoid buying Ocugen stock even as a speculative play. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. You canfollow Will on Twitterat @HealyWriting. Histogenics itself highlights the risks involved in small-cap biotech. 2023 InvestorPlace Media, LLC. The risk-reward proposition for Ocugen is obviously much different now than it was when individuals were buying the stock over the last several months. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The point is, the risk/reward of owning something like Ocugen is simply not worth it vs. having even basic equity exposure. Importantly, neither Bharat nor Indian regulators revealed the efficacy of the vaccine. With No Revenue or Approved Treatments, Ocugen Stock Is a Clear Sell Amryt Pharma releases Q-2 how to setup copy trading labrador gold stock that show strong revenue growth as The first split for NKE took place on October 08, Below, we'll pit these two dominant consumer-discretionary giants against each other, with an eye toward long-term . Considering Bharats reputation for world-class R&D and manufacturing capabilities in vaccines and bio-therapeutics, H.C. Wainwright analyst Swayampakula Ramakanth thinks the company is a suitable partner.. On June 10, though, Ocugen announced that the U.S. Food and Drug Administration (FDA) had effectively shut the door on an EUA filing. The short answer is: everything. However, I wont be around to find out. Some investors had set their hopes on the FDA being more lenient with pediatric use of Covaxin. It means that raising capital will be more difficult going forward. Ocugen, previously a private company, instituted a reverse merger, which they completed on Sep. 30. Maybe it pans out for Ocugen and I wish the team (and its investors) the best of luck. Ocugen Chairman and CEO Shankar Musunuri Ocugen The company's stock opened at $8.24 per share Tuesday, up 96 cents. Shares of Ocugen (NASDAQ: OCGN) were skyrocketing 64.2% higher as of 11:35 a.m. EST on Monday.