Ovid Therapeutics Sees Unusually High Options Volume (NASDAQ:OVID)

Ovid Therapeutics (NASDAQ:OVID) was the target of unusually large options trading activity on Friday. Investors bought 3,750 call options on the company. This is an increase of approximately 347% compared to the typical daily volume of 838 call options.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $1.84 on Friday. Ovid Therapeutics has a 52 week low of $0.24 and a 52 week high of $2.01. The firm has a market cap of $130.84 million, a price-to-earnings ratio of -3.47 and a beta of 0.35. The firm’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $0.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.72 and a current ratio of 4.72.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.10. The business had revenue of $6.27 million for the quarter, compared to analyst estimates of $0.09 million. Ovid Therapeutics had a negative net margin of 574.44% and a negative return on equity of 58.87%. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

OVID has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Saturday, September 27th. Finally, B. Riley restated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Ovid Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $3.10.

Institutional Investors Weigh In On Ovid Therapeutics

A number of large investors have recently bought and sold shares of OVID. Affinity Asset Advisors LLC acquired a new stake in Ovid Therapeutics during the first quarter worth about $208,000. Rosalind Advisors Inc. acquired a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $165,000. Assenagon Asset Management S.A. boosted its position in Ovid Therapeutics by 699.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 560,830 shares of the company’s stock worth $175,000 after buying an additional 490,716 shares during the period. Acadian Asset Management LLC boosted its position in Ovid Therapeutics by 12.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after buying an additional 237,445 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Ovid Therapeutics during the 2nd quarter worth approximately $54,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

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.