Ovid Therapeutics (NASDAQ:OVID) Shares Up 9.6%

Ovid Therapeutics Inc (NASDAQ:OVID)’s share price shot up 9.6% during trading on Wednesday . The company traded as high as $4.48 and last traded at $4.35, 841,600 shares were traded during mid-day trading. An increase of 62% from the average session volume of 519,244 shares. The stock had previously closed at $3.97.

A number of research firms have recently commented on OVID. ValuEngine lowered Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 1st. Zacks Investment Research raised Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Friday. William Blair reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Friday, November 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $13.13.

The stock has a fifty day moving average price of $3.88 and a 200 day moving average price of $3.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.78 and a quick ratio of 3.78. The stock has a market capitalization of $208.00 million, a P/E ratio of -2.18 and a beta of 2.85.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ovid Therapeutics by 67.8% in the second quarter. Vanguard Group Inc. now owns 1,097,614 shares of the company’s stock worth $2,030,000 after acquiring an additional 443,490 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Ovid Therapeutics in the third quarter worth approximately $56,000. Virtu Financial LLC bought a new position in Ovid Therapeutics in the third quarter worth approximately $80,000. Alpine Global Management LLC bought a new position in Ovid Therapeutics in the fourth quarter worth approximately $69,000. Finally, Assenagon Asset Management S.A. bought a new position in Ovid Therapeutics in the fourth quarter worth approximately $274,000. 17.34% of the stock is owned by hedge funds and other institutional investors.

About Ovid Therapeutics (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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