Traders Purchase High Volume of Call Options on Ovid Therapeutics (NASDAQ:OVID)

Ovid Therapeutics (NASDAQ:OVID) saw some unusual options trading on Friday. Investors purchased 3,750 call options on the company. This is an increase of 347% compared to the typical daily volume of 838 call options.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $1.84 on Friday. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $0.59. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $2.01. The firm has a market capitalization of $130.84 million, a PE ratio of -3.47 and a beta of 0.35.

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

Institutional Trading of Ovid Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. purchased a new stake in shares of Ovid Therapeutics in the second quarter worth approximately $165,000. Jane Street Group LLC bought a new stake in Ovid Therapeutics during the second quarter worth $47,000. Velan Capital Investment Management LP raised its position in Ovid Therapeutics by 64.9% in the 2nd quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock valued at $53,000 after buying an additional 63,000 shares during the last quarter. Marshall Wace LLP bought a new position in Ovid Therapeutics during the 2nd quarter valued at $54,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Ovid Therapeutics during the 2nd quarter valued at $53,000. 72.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OVID has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Friday, August 8th. Wall Street Zen upgraded 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.10.

Ovid Therapeutics Company Profile

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.