Ovid Therapeutics Inc. [NASDAQ: OVID] stock went on a downward path that fall over -6.10% on Tuesday, amounting to a one-week price decrease of less than -14.92%. The company report on August 25, 2020 that Ovid Therapeutics Announces Pricing of $50 Million Offering of Common Stock.
Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of patients with rare neurological diseases, today announced the pricing of an underwritten offering (the “Offering”) of 6,250,000 shares of its common stock. The offering price of each share of common stock was $8.00. The Offering is expected to close on August 27, 2020, subject to customary closing conditions.
Cowen and William Blair are acting as joint book-running managers for the Offering. RBC Capital Markets is acting as lead manager and Ladenburg Thalmann is acting as co-manager for the Offering.
Over the last 12 months, OVID stock rose by 206.25%. The average equity rating for OVID stock is currently 1.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $332.62 million, with 55.61 million shares outstanding and 35.09 million shares in the current float. Compared to the average trading volume of 1.64M shares, OVID stock reached a trading volume of 1172251 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.61 The Price to Book ratio for the last quarter was 9.80, with the Price to Cash per share for the same quarter was set at 0.67.
OVID Stock Performance Analysis:
Ovid Therapeutics Inc. [OVID] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.92. With this latest performance, OVID shares dropped by -20.38% in over the last four-week period, additionally plugging by 52.69% over the last 6 months – not to mention a rise of 206.25% 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 30.54, with the RSI for the last a single of trading hit 23.81, and the three-weeks RSI is set at 36.58 for Ovid Therapeutics Inc. [OVID]. The present Moving Average for the last 50 days of trading for this stock 7.10, while it was recorded at 5.74 for the last single week of trading, and 4.67 for the last 200 days.
Insight into Ovid Therapeutics Inc. 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 3.00 and a Current Ratio set at 3.00.
OVID Stock EPS
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 Position Details
There are presently around $118 million, or 38.50% of OVID stock, in the hands of institutional investors. The top three institutional holders of OVID stocks are: BLACKROCK INC. with ownership of 2,914,107, which is approximately 494.712% of the company’s market cap and around 41.03% of the total institutional ownership; CONSONANCE CAPITAL MANAGEMENT LP, holding 2,570,878 shares of the stock with an approximate value of $13.86 million in OVID stocks shares; and BVF INC/IL, currently with $12.89 million in OVID stock with ownership of nearly 86.014% 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 58 institutional holders increased their position in Ovid Therapeutics Inc. [NASDAQ:OVID] by around 8,742,580 shares. Additionally, 34 investors decreased positions by around 2,720,706 shares, while 6 investors held positions by with 10,513,379 shares. The mentioned changes placed institutional holdings at 21,976,665 shares, according to the latest SEC report filing. OVID stock had 39 new institutional investments in for a total of 2,704,167 shares, while 17 institutional investors sold positions of 1,138,479 shares during the same period.