Ovid Therapeutics Inc. (NASDAQ:OVID) Sees Significant Growth in Short Interest

Ovid Therapeutics Inc. (NASDAQ:OVID) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 947,800 shares, a growth of 28.0% from the November 30th total of 740,300 shares. Based on an average trading volume of 212,600 shares, the days-to-cover ratio is currently 4.5 days. Approximately 1.7% of the shares of the company are short sold.

Ovid Therapeutics Price Performance

Shares of OVID stock traded down $0.02 during trading hours on Tuesday, reaching $0.93. The company had a trading volume of 195,703 shares, compared to its average volume of 377,271. The stock has a fifty day moving average of $1.11 and a 200-day moving average of $1.06. The company has a market capitalization of $66.30 million, a price-to-earnings ratio of -1.99 and a beta of 0.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66. Ovid Therapeutics has a 12-month low of $0.68 and a 12-month high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. On average, equities analysts anticipate that Ovid Therapeutics will post -0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.04.

Institutional Investors Weigh In On Ovid Therapeutics

Several institutional investors have recently modified their holdings of OVID. XTX Topco Ltd lifted its holdings in shares of Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the period. DCF Advisers LLC lifted its position in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after buying an additional 22,020 shares in the last quarter. FMR LLC raised its position in Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after purchasing an additional 47,723 shares during the period. Verition Fund Management LLC purchased a new position in Ovid Therapeutics in the 3rd quarter worth approximately $88,000. Finally, Barclays PLC lifted its holdings in Ovid Therapeutics by 311.2% in the 3rd quarter. Barclays PLC now owns 84,175 shares of the company’s stock worth $98,000 after buying an additional 63,702 shares in the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

About Ovid Therapeutics

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.