Shares closed at $1.46 on Wednesday as the S&P 500 rose 1.46% to 7,365.12 and the Dow gained 1.24% to 49,910.59.
The decline marked Ocugen's second straight daily loss, leaving the stock 46.61% below its 52-week high of $2.73 reached on 17 March.
Trading volume reached 15.4 million shares, well above the company's 50-day average of 9.4 million, indicating heavier-than-usual investor activity despite the broader market rally.
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