Ovid Therapeutics Inc (NASDAQ:OVID) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 488,900 shares, a decline of 48.7% from the June 15th total of 953,600 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 562,200 shares, the short-interest ratio is currently 0.9 days.

OVID traded up $0.01 during trading hours on Friday, hitting $2.12. 96,905 shares of the company’s stock were exchanged, compared to its average volume of 582,602. Ovid Therapeutics has a 12-month low of $1.53 and a 12-month high of $10.19. The stock’s 50 day moving average price is $2.13. The stock has a market cap of $81.64 million, a price-to-earnings ratio of -1.00 and a beta of 2.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.78 and a current ratio of 7.78.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, May 7th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Analysts predict that Ovid Therapeutics will post -1.84 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on OVID shares. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research note on Friday. LADENBURG THALM/SH SH reaffirmed a “buy” rating on shares of Intec Pharma in a research note on Thursday, May 16th. Finally, Cowen reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Ovid Therapeutics has an average rating of “Buy” and a consensus target price of $12.85.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in Ovid Therapeutics by 445.6% during the 1st quarter. Acadian Asset Management LLC now owns 153,898 shares of the company’s stock worth $272,000 after acquiring an additional 125,690 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ovid Therapeutics by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after acquiring an additional 6,391 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ovid Therapeutics by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock worth $211,000 after acquiring an additional 8,995 shares in the last quarter. Two Sigma Investments LP acquired a new position in Ovid Therapeutics during the 4th quarter worth approximately $114,000. Finally, Rhumbline Advisers grew its holdings in Ovid Therapeutics by 47.2% during the 4th quarter. Rhumbline Advisers now owns 16,551 shares of the company’s stock worth $40,000 after acquiring an additional 5,310 shares in the last quarter. Institutional investors own 31.73% of the company’s stock.

Ovid Therapeutics Company Profile

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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