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

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

Ovid Therapeutics Stock Up 12.2%

Ovid Therapeutics stock opened at $1.84 on Friday. The stock has a market capitalization of $130.84 million, a PE ratio of -3.47 and a beta of 0.35. Ovid Therapeutics has a twelve month low of $0.24 and a twelve month high of $2.01. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $1.06 and a 200-day moving average of $0.59.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.10. The company had revenue of $6.27 million during the quarter, compared to analysts’ expectations of $0.09 million. Ovid Therapeutics had a negative net margin of 574.44% and a negative return on equity of 58.87%. On average, equities research analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Trading of Ovid Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Rosalind Advisors Inc. bought a new stake in shares of Ovid Therapeutics in the second quarter worth $165,000. Jane Street Group LLC bought a new stake in shares of Ovid Therapeutics in the second quarter worth $47,000. Velan Capital Investment Management LP lifted its position in shares of Ovid Therapeutics by 64.9% in the second quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after purchasing an additional 63,000 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Ovid Therapeutics in the second quarter worth $54,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ovid Therapeutics in the second quarter worth $53,000. Institutional investors own 72.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OVID shares. B. Riley reissued a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research note on Friday, August 8th. Wall Street Zen raised shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.10.

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.