Ovid Therapeutics Inc. (NASDAQ:OVID) Short Interest Update

Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,800,000 shares, a decline of 23.7% from the March 15th total of 3,670,000 shares. Approximately 4.8% of the company's shares are short sold. Based on an average daily volume of 205,000 shares, the short-interest ratio is currently 13.7 days.

Ovid Therapeutics Stock Down 2.1 %

Shares of NASDAQ OVID traded down $0.07 during mid-day trading on Friday, hitting $3.20. 88,254 shares of the stock traded hands, compared to its average volume of 323,003. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.55 and a current ratio of 9.55. Ovid Therapeutics has a 52 week low of $2.57 and a 52 week high of $4.14. The company has a market cap of $226.27 million, a price-to-earnings ratio of -4.27 and a beta of 0.71. The stock has a fifty day moving average price of $3.30 and a 200-day moving average price of $3.37.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its quarterly earnings results on Friday, March 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.10 million. Research analysts anticipate that Ovid Therapeutics will post -0.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on OVID shares. BTIG Research started coverage on Ovid Therapeutics in a research report on Thursday, December 21st. They issued a "buy" rating and a $11.00 price objective on the stock. Wedbush assumed coverage on Ovid Therapeutics in a research report on Friday, April 5th. They issued an "outperform" rating and a $8.00 price objective on the stock.

Insiders Place Their Bets

In other Ovid Therapeutics news, CEO Jeremy M. Levin acquired 18,248 shares of the business's stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $2.76 per share, for a total transaction of $50,364.48. Following the transaction, the chief executive officer now owns 3,616,715 shares in the company, valued at $9,982,133.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.60% of the company's stock.

Institutional Investors Weigh In On Ovid Therapeutics

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Ovid Therapeutics by 0.5% in the first quarter. BlackRock Inc. now owns 725,887 shares of the company's stock worth $1,873,000 after acquiring an additional 3,308 shares in the last quarter. Rhumbline Advisers boosted its holdings in Ovid Therapeutics by 5.1% in the third quarter. Rhumbline Advisers now owns 82,791 shares of the company's stock worth $318,000 after acquiring an additional 4,023 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ovid Therapeutics by 8.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 61,795 shares of the company's stock worth $199,000 after acquiring an additional 5,039 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ovid Therapeutics by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 170,036 shares of the company's stock worth $653,000 after acquiring an additional 7,389 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ovid Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 499,635 shares of the company's stock worth $929,000 after acquiring an additional 7,562 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Company Profile

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.