Ovid Therapeutics (NASDAQ:OVID) Trading 6.6% Higher
Ovid Therapeutics Inc (NASDAQ:OVID) traded up 6.6% during trading on Monday . The stock traded as high as $2.77 and last traded at $2.76, 314,700 shares traded hands during trading. A decline of 32% from the average session volume of 463,265 shares. The stock had previously closed at $2.59.
Several equities research analysts have commented on the stock. Piper Jaffray Companies set a $14.00 target price on shares of Ovid Therapeutics and gave the stock a “buy” rating in a research report on Monday, September 23rd. Cowen restated a “buy” rating on shares of Ovid Therapeutics in a research report on Monday, November 11th. ValuEngine upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on shares of Ovid Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada began coverage on Ovid Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $12.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Ovid Therapeutics presently has an average rating of “Buy” and a consensus target price of $12.29.
The firm has a market cap of $121.45 million, a price-to-earnings ratio of -1.31 and a beta of 2.38. The company has a current ratio of 3.78, a quick ratio of 5.84 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $2.47 and a 200-day moving average price of $2.14.
In other news, CEO Jeremy M. Levin purchased 60,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average price of $2.13 per share, with a total value of $127,800.00. Insiders own 29.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in Ovid Therapeutics in the 3rd quarter valued at about $56,000. Jane Street Group LLC raised its stake in Ovid Therapeutics by 199.6% in the 2nd 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 stake in Ovid Therapeutics by 37.4% in the 2nd 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. Paloma Partners Management Co acquired a new position in Ovid Therapeutics in the 2nd quarter valued at about $109,000. Finally, Renaissance Technologies LLC raised its stake in Ovid Therapeutics by 29.8% in the 2nd quarter. Renaissance Technologies LLC now owns 471,609 shares of the company’s stock valued at $872,000 after purchasing an additional 108,392 shares during the last quarter. 22.50% of the stock is owned by hedge funds and other institutional investors.
Ovid Therapeutics Company Profile (NASDAQ:OVID)
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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