Ovid Therapeutics Inc (NASDAQ:OVID) was the target of a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 636,400 shares, a drop of 16.4% from the November 14th total of 761,400 shares. Based on an average trading volume of 743,900 shares, the short-interest ratio is currently 0.9 days. Currently, 3.2% of the company’s shares are sold short.

Shares of NASDAQ OVID traded down $0.07 during midday trading on Friday, reaching $4.03. The company’s stock had a trading volume of 573,753 shares, compared to its average volume of 612,788. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.01. Ovid Therapeutics has a fifty-two week low of $1.53 and a fifty-two week high of $4.44. The stock has a market capitalization of $198.44 million, a price-to-earnings ratio of -1.91 and a beta of 2.86. The stock has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $2.38.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.02. As a group, equities analysts anticipate that Ovid Therapeutics will post -1.64 EPS for the current year.

Several brokerages have commented on OVID. Cowen restated a “buy” rating on shares of Ovid Therapeutics in a report on Monday, November 11th. Royal Bank of Canada began coverage on shares of Ovid Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $12.00 target price on the stock. William Blair restated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, November 22nd. Zacks Investment Research downgraded shares of Ovid Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Finally, Citigroup raised their target price on shares of Ovid Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.29.

In related news, major shareholder Pharmaceutical Co Ltd Takeda bought 2,000,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.50 per share, for a total transaction of $5,000,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeremy M. Levin bought 60,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $2.13 per share, for a total transaction of $127,800.00. Company insiders own 29.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at approximately $56,000. Virtu Financial LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at approximately $80,000. Jane Street Group LLC raised its holdings in shares of Ovid Therapeutics by 199.6% in the second quarter. Jane Street Group LLC now owns 52,309 shares of the company’s stock valued at $97,000 after purchasing an additional 34,850 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Ovid Therapeutics by 37.4% in the second quarter. Acadian Asset Management LLC now owns 211,490 shares of the company’s stock valued at $392,000 after purchasing an additional 57,592 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Ovid Therapeutics in the second quarter valued at approximately $109,000. Institutional investors own 19.20% of the company’s stock.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, develops impactful medicines for patients and families with neurological disorders in the United States. The company is developing OV101, a drug candidate, which has completed Phase II clinical trial for adults with angelman syndrome; and Phase I clinical trial for adolescents with angelman syndrome or fragile X syndrome.

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