Ovid Therapeutics Inc. (NASDAQ:OVID) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 4,710,000 shares, a decline of 18.5% from the March 31st total of 5,780,000 shares. Based on an average daily volume of 3,930,000 shares, the days-to-cover ratio is currently 1.2 days.
Shares of Ovid Therapeutics stock traded down $0.09 on Tuesday, hitting $3.64. The company’s stock had a trading volume of 708,496 shares, compared to its average volume of 3,295,842. Ovid Therapeutics has a 52-week low of $2.25 and a 52-week high of $9.40. The firm has a fifty day moving average price of $3.90 and a 200-day moving average price of $3.84. The company has a market capitalization of $239.34 million, a P/E ratio of -2.58 and a beta of 1.86.
Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Sunday, March 14th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $6.54 million. As a group, analysts expect that Ovid Therapeutics will post -1.33 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its holdings in shares of Ovid Therapeutics by 4.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 74,370 shares of the company’s stock valued at $172,000 after buying an additional 3,170 shares during the period. Rhumbline Advisers lifted its stake in shares of Ovid Therapeutics by 7.3% in the 4th quarter. Rhumbline Advisers now owns 49,670 shares of the company’s stock worth $115,000 after acquiring an additional 3,390 shares during the period. Strs Ohio lifted its stake in shares of Ovid Therapeutics by 20.4% in the 4th quarter. Strs Ohio now owns 23,600 shares of the company’s stock worth $54,000 after acquiring an additional 4,000 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Ovid Therapeutics by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 175,579 shares of the company’s stock worth $1,167,000 after acquiring an additional 4,897 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ovid Therapeutics by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 21,064 shares of the company’s stock worth $49,000 after acquiring an additional 5,104 shares during the period. 39.59% of the stock is owned by institutional investors and hedge funds.
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 is in Phase III clinical trial for the treatment of angelman syndrome in adults; and completed Phase II clinical trial for the treatment of fragile X syndrome in adolescent and young male adults.
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