Monday, March 1, 2021

Ovid Therapeutics Inc. [OVID] Is Currently 8.90 above its 200 Period Moving Avg: What Dose This Mean?

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Ovid Therapeutics Inc. [NASDAQ: OVID] surged by $0.62 during the normal trading session on Wednesday and reaching a high of $7.76 during the day while it closed the day at $7.64. The company report on August 10, 2020 that Ovid Therapeutics Reports Second Quarter 2020 Financial Results and Provides Corporate Update.

Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today reported financial results for the second quarter ended June 30, 2020 and provided a corporate update.


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“Ovid is in an exciting and transformational period. We expect a number of important late-stage data readouts across our pipeline this quarter and over the remainder of the year,” said Jeremy Levin, DPhil, MB, BChir, Chairman and Chief Executive Officer of Ovid Therapeutics. “We have completed enrollment in our pivotal Phase 3 NEPTUNE trial and expect topline results to be available in the fourth quarter. We also expect data from our comprehensive Phase 2 development program with soticlestat in four different rare developmental and epileptic encephalopathies during the third quarter. These upcoming data readouts, coupled with our recent commercial partnership with Angelini Pharma for OV101 in Europe, the receipt of Rare Pediatric Disease Designation from the FDA for OV101 in Angelman syndrome, and the expansion of our early-stage novel pipeline in genetics of rare neurological disease, have the potential to deliver near-term products and longer-term innovation, which will drive our strategy. These important building blocks set the stage for Ovid to command a leading position in rare neurology.”.

Ovid Therapeutics Inc. stock has also gained 7.98% of its value over the past 7 days. However, OVID stock has inclined by 82.89% in the 3 months of the year. Over the past six months meanwhile, it has gained 75.75% and gained 84.22% year-on date.

The market cap for OVID stock reached $403.43 million, with 54.72 million shares outstanding and 32.76 million shares in the current float. Compared to the average trading volume of 1.49M shares, OVID reached a trading volume of 1191678 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ovid Therapeutics Inc. [OVID]:

RBC Capital Mkts have made an estimate for Ovid Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 04, 2019. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on April 20, 2018, representing the official price target for Ovid Therapeutics Inc. stock.

The Average True Range (ATR) for Ovid Therapeutics Inc. is set at 0.49 The Price to Book ratio for the last quarter was 8.13, with the Price to Cash per share for the same quarter was set at 1.10.

OVID stock trade performance evaluation

Ovid Therapeutics Inc. [OVID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.98. With this latest performance, OVID shares gained by 3.45% in over the last four-week period, additionally plugging by 75.75% over the last 6 months – not to mention a rise of 286.11% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OVID stock in for the last two-week period is set at 62.98, with the RSI for the last a single of trading hit 66.80, and the three-weeks RSI is set at 59.94 for Ovid Therapeutics Inc. [OVID]. The present Moving Average for the last 50 days of trading for this stock 6.79, while it was recorded at 7.18 for the last single week of trading, and 4.36 for the last 200 days.

Ovid Therapeutics Inc. [OVID]: An insightful look at the core fundamentals

Return on Total Capital for OVID is now -112.86, given the latest momentum, and Return on Invested Capital for the company is -111.11. Return on Equity for this stock declined to -111.11, with Return on Assets sitting at -94.11.

Reflecting on the efficiency of the workforce at the company, Ovid Therapeutics Inc. [OVID] managed to generate an average of -$1,024,767 per employee.Ovid Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.10 and a Current Ratio set at 6.10.

Earnings per share (EPS) analysis for Ovid Therapeutics Inc. [OVID] stock

With the latest financial reports released by the company, Ovid Therapeutics Inc. posted -0.43/share EPS, while the average EPS was predicted by analysts to be reported at -0.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -19.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OVID.

Ovid Therapeutics Inc. [OVID]: Insider Ownership positions

There are presently around $125 million, or 30.20% of OVID stock, in the hands of institutional investors. The top three institutional holders of OVID stocks are: CONSONANCE CAPITAL MANAGEMENT LP with ownership of 2,580,878, which is approximately -10.662% of the company’s market cap and around 41.03% of the total institutional ownership; FMR LLC, holding 2,084,900 shares of the stock with an approximate value of $15.94 million in OVID stocks shares; and VANGUARD GROUP INC, currently with $12.99 million in OVID stock with ownership of nearly 14.138% of the company’s market capitalization.

Positions in Ovid Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 40 institutional holders increased their position in Ovid Therapeutics Inc. [NASDAQ:OVID] by around 2,557,305 shares. Additionally, 40 investors decreased positions by around 3,354,725 shares, while 9 investors held positions by with 10,398,218 shares. The mentioned changes placed institutional holdings at 16,310,248 shares, according to the latest SEC report filing. OVID stock had 23 new institutional investments in for a total of 905,838 shares, while 21 institutional investors sold positions of 1,564,801 shares during the same period.

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