Ovid Therapeutics (NASDAQ:OVID) Shares Cross Below Fifty Day Moving Average of $1.06

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.06 and traded as low as $1.03. Ovid Therapeutics shares last traded at $1.06, with a volume of 225,542 shares.

Analyst Ratings Changes

Several research firms recently weighed in on OVID. Citigroup dropped their target price on shares of Ovid Therapeutics from $3.50 to $1.20 and set a "neutral" rating for the company in a report on Tuesday, June 18th. William Blair raised Ovid Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. BTIG Research decreased their target price on Ovid Therapeutics from $11.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, June 18th. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Monday, August 19th. Finally, B. Riley dropped their target price on Ovid Therapeutics from $9.00 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ovid Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $4.70.

Ovid Therapeutics Stock Up 10.4 %

The firm has a 50 day moving average price of $1.06 and a 200-day moving average price of $2.09. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.16. The firm has a market cap of $83.01 million, a PE ratio of -1.60 and a beta of 0.42.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. The company had revenue of $0.17 million during the quarter, compared to analysts' expectations of $0.14 million. Research analysts forecast that Ovid Therapeutics Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Ovid Therapeutics

Large investors have recently bought and sold shares of the business. DCF Advisers LLC increased its holdings in shares of Ovid Therapeutics by 111.6% in the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company's stock valued at $32,000 after acquiring an additional 22,020 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company's stock worth $41,000 after purchasing an additional 5,401 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company's stock worth $54,000 after buying an additional 3,145 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ovid Therapeutics by 74.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company's stock worth $98,000 after buying an additional 13,756 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in shares of Ovid Therapeutics in the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 72.24% of the company's stock.

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.