Ocugen CEO’s Keynote Address Meets Heightened Market Skepticism

The spotlight is firmly on Ocugen today as its leadership prepares to address the investment community. Chairman and CEO Dr. Shankar Musunuri is scheduled to speak at a significant industry conference, an appearance that arrives during a period of pronounced bearish sentiment toward the company's stock. The event is poised to deliver crucial insights for both bullish investors and skeptical traders alike.

Dr. Musunuri’s presentation will take the form of a fireside chat at the Oppenheimer Movers in Rare Disease Summit this Thursday. The core focus will be the company's modifier gene therapy platform, the foundation for its development of treatments targeting specific blindness disorders. This platform represents the central pillar of Ocugen's clinical development pipeline.

Beyond the public discussion, the company's management has also arranged private meetings with investors. These sessions are intended to clarify Ocugen's strategic direction and outline the key milestones targeted for achievement by 2026. The conference provides a direct channel for the firm to communicate its gene therapy narrative to the capital markets and to address prevailing questions concerning its business model, development timelines, and pipeline progress.

Significant Short Interest Creates Technical Volatility Potential

Amidst this outreach, a substantial short interest in Ocugen's shares remains a dominant theme. A high level of short selling reflects a market where a significant number of participants are betting on a declining share price.

Should investors sell immediately? Or is it worth buying Ocugen?

Recent data underscores the scale of this sentiment:

• As of mid-November 2025, approximately 21.2% of the company's freely tradable shares, or float, had been sold short.
• Other contemporary analyses estimate the short interest to be around 19.2% of the float.
• In absolute terms, the number of shares sold short has recently climbed to roughly 59.09 million.

This magnitude of short positioning signals considerable market doubt. It also introduces a notable technical factor: the "days to cover" ratio, which indicates the time required to repurchase all shorted shares based on average trading volume, currently exceeds 15 days. This highlights the size of the short positions relative to daily liquidity and establishes conditions that could fuel a sharp price movement should market sentiment shift positively.

Chart Analysis Reflects Recent Pressure

From a technical perspective, the stock's recent performance mirrors the building pressure. Currently trading near €1.04, Ocugen's shares sit approximately 10% below their 50-day moving average. However, they continue to hold notably above the 200-day moving average. This chart pattern illustrates the equity's substantial recovery from its lows and suggests its current heightened sensitivity to new information.

All Eyes on 2026 Roadmap Clarity

The lasting impact of today's events will likely hinge on the specificity and conviction with which Ocugen's management articulates its platform strategy, clinical pipeline status, and objectives for 2026. Positive signals regarding trial data, regulatory pathways, or potential partnerships could alleviate the skeptical market mood and pressure the substantial short positions. Conversely, a vague or unconvincing presentation may reinforce the short sellers' thesis. Consequently, the management's ability to translate the promise of its gene therapy platform into credible, near-term milestones during this appearance is of paramount importance.