Ovid Therapeutics Inc (NASDAQ:OVID) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 735,323 shares, an increase of 34.3% from the April 15th total of 547,520 shares. Based on an average daily trading volume, of 731,757 shares, the short-interest ratio is presently 1.0 days. Approximately 3.2% of the shares of the company are sold short.
OVID has been the subject of several analyst reports. Zacks Investment Research lowered Ovid Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th. Piper Jaffray Companies reduced their price objective on Ovid Therapeutics to $14.00 and set an “overweight” rating for the company in a research note on Sunday, March 10th. JMP Securities reduced their price objective on Ovid Therapeutics from $26.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 8th. ValuEngine lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, LADENBURG THALM/SH SH restated a “buy” rating and issued a $27.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $12.85.
NASDAQ:OVID opened at $1.70 on Monday. The company has a quick ratio of 7.78, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $65.78 million, a PE ratio of -0.81 and a beta of 2.10. Ovid Therapeutics has a one year low of $1.56 and a one year high of $11.45.
Several large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Ovid Therapeutics by 47.2% in the 4th quarter. Rhumbline Advisers now owns 16,551 shares of the company’s stock worth $40,000 after purchasing an additional 5,310 shares in the last quarter. Geode Capital Management LLC increased its stake in Ovid Therapeutics by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after buying an additional 6,391 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Ovid Therapeutics by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock worth $211,000 after buying an additional 8,995 shares in the last quarter. Jane Street Group LLC purchased a new stake in Ovid Therapeutics in the 1st quarter worth $31,000. Finally, SG Americas Securities LLC purchased a new stake in Ovid Therapeutics in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 19.68% of the company’s stock.
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About Ovid Therapeutics
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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