Ovid Therapeutics (NASDAQ:OVID) Trading Down 5.8%

Ovid Therapeutics Inc (NASDAQ:OVID)’s share price fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $3.24 and last traded at $3.26, 1,248,047 shares were traded during trading. An increase of 121% from the average session volume of 564,290 shares. The stock had previously closed at $3.46.

A number of research firms have commented on OVID. ValuEngine lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Cowen reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Monday, November 11th. William Blair reissued a “buy” rating on shares of Ovid Therapeutics in a report on Friday, November 22nd. Finally, Zacks Investment Research cut Ovid Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $13.13.

The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $3.76 and a two-hundred day moving average of $3.08. The stock has a market capitalization of $163.30 million, a price-to-earnings ratio of -1.86 and a beta of 2.86.

Several large investors have recently modified their holdings of the company. Alpine Global Management LLC acquired a new position in shares of Ovid Therapeutics during the fourth quarter worth about $69,000. Commonwealth Equity Services LLC acquired a new stake in Ovid Therapeutics in the third quarter valued at about $56,000. Charles Schwab Investment Management Inc. purchased a new stake in Ovid Therapeutics in the 4th quarter valued at approximately $78,000. Tower Research Capital LLC TRC purchased a new stake in Ovid Therapeutics in the 4th quarter valued at approximately $79,000. Finally, Algert Global LLC purchased a new stake in Ovid Therapeutics in the 4th quarter valued at approximately $81,000. 37.16% of the stock is currently owned by institutional investors and hedge funds.

Ovid Therapeutics Company Profile (NASDAQ:OVID)

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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