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

Ovid Therapeutics Inc. (NASDAQ:OVID) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 883,700 shares, a growth of 25.3% from the January 15th total of 705,500 shares. Based on an average trading volume of 365,900 shares, the short-interest ratio is presently 2.4 days. Currently, 1.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OVID. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a research report on Wednesday, January 29th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $4.03.

Ovid Therapeutics Stock Down 0.3 %

OVID stock traded down $0.00 during mid-day trading on Friday, reaching $0.64. 280,646 shares of the company traded hands, compared to its average volume of 544,787. The stock has a market cap of $45.72 million, a price-to-earnings ratio of -1.37 and a beta of 0.30. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics has a fifty-two week low of $0.57 and a fifty-two week high of $3.93. The firm’s 50 day moving average price is $0.84 and its 200 day moving average price is $1.03.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its stake in Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after purchasing an additional 12,076 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ovid Therapeutics by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock worth $1,555,000 after buying an additional 14,816 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Ovid Therapeutics by 22.3% during the 4th quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after buying an additional 15,355 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Ovid Therapeutics by 83.9% during the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after buying an additional 17,172 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Ovid Therapeutics by 1.1% during the 4th quarter. Kennedy Capital Management LLC now owns 1,545,387 shares of the company’s stock worth $1,443,000 after buying an additional 17,402 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

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.