Ovid Therapeutics Inc (NASDAQ:OVID) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 858,500 shares, an increase of 5.8% from the January 15th total of 811,800 shares. Based on an average trading volume of 727,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.0% of the company’s shares are sold short.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Ovid Therapeutics by 67.8% during the second quarter. Vanguard Group Inc. now owns 1,097,614 shares of the company’s stock worth $2,030,000 after buying an additional 443,490 shares during the period. Commonwealth Equity Services LLC acquired a new position in Ovid Therapeutics during the third quarter valued at $56,000. Virtu Financial LLC acquired a new position in Ovid Therapeutics during the third quarter valued at $80,000. Alpine Global Management LLC acquired a new position in Ovid Therapeutics during the fourth quarter valued at $69,000. Finally, Assenagon Asset Management S.A. acquired a new position in Ovid Therapeutics during the fourth quarter valued at $274,000. 17.34% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on OVID. William Blair reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, November 22nd. Zacks Investment Research raised shares of Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Friday. ValuEngine lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 1st. Finally, Cowen reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $13.13.
Shares of NASDAQ:OVID opened at $3.82 on Friday. The firm has a market cap of $208.00 million, a PE ratio of -2.18 and a beta of 2.85. The firm’s 50 day simple moving average is $3.88 and its 200-day simple moving average is $3.00. Ovid Therapeutics has a one year low of $1.53 and a one year high of $5.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.78 and a current ratio of 3.78.
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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