Ovid Therapeutics Inc (NASDAQ:OVID) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.66 and last traded at $1.74, with a volume of 3804 shares traded. The stock had previously closed at $1.83.
OVID has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Ovid Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Saturday, March 9th. LADENBURG THALM/SH SH set a $27.00 price target on shares of Ovid Therapeutics and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, JMP Securities lowered their price target on shares of Ovid Therapeutics from $26.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.80.
The company has a market cap of $70.72 million, a price-to-earnings ratio of -0.87 and a beta of 1.96.
Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.03. On average, research analysts anticipate that Ovid Therapeutics Inc will post -1.89 earnings per share for the current year.
In related news, CEO Jeremy M. Levin acquired 75,000 shares of the stock in a transaction dated Friday, February 22nd. The stock was bought at an average price of $2.00 per share, for a total transaction of $150,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 43.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in Ovid Therapeutics by 47.2% in the 4th quarter. Rhumbline Advisers now owns 16,551 shares of the company’s stock valued at $40,000 after purchasing an additional 5,310 shares during the period. SG Americas Securities LLC purchased a new position in Ovid Therapeutics during the 4th quarter worth $46,000. Two Sigma Investments LP purchased a new position in Ovid Therapeutics during the 4th quarter worth $114,000. Dimensional Fund Advisors LP boosted its holdings in Ovid Therapeutics by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 87,257 shares of the company’s stock worth $211,000 after acquiring an additional 8,995 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ovid Therapeutics by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 95,865 shares of the company’s stock worth $231,000 after acquiring an additional 6,391 shares during the last quarter. Institutional investors own 17.69% of the company’s stock.
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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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