Ovid Therapeutics Inc. (NASDAQ:OVID) Short Interest Down 27.0% in December

Ovid Therapeutics Inc. (NASDAQ:OVID) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 692,000 shares, a drop of 27.0% from the December 15th total of 947,800 shares. Based on an average daily volume of 251,900 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.2% of the shares of the company are sold short.

Institutional Trading of Ovid Therapeutics

Hedge funds have recently modified their holdings of the company. DCF Advisers LLC boosted its holdings in shares of Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after acquiring an additional 22,020 shares in the last quarter. XTX Topco Ltd boosted its stake in Ovid Therapeutics by 46.2% in 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 in the last quarter. FMR LLC grew its holdings in shares of Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter valued at $88,000. Finally, Barclays PLC raised its holdings in shares of Ovid Therapeutics by 311.2% in the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after buying an additional 63,702 shares during the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

NASDAQ:OVID traded up $0.00 during trading hours on Wednesday, reaching $0.76. The company had a trading volume of 238,366 shares, compared to its average volume of 428,596. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $1.05 and a two-hundred day moving average of $1.07. Ovid Therapeutics has a one year low of $0.68 and a one year high of $4.10. The firm has a market capitalization of $54.10 million, a PE ratio of -1.62 and a beta of 0.34.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Analysts forecast that Ovid Therapeutics will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.04.

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.