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On February 26, 2025, Rona Jeffrey A, the Chief Business and Financial Officer (CBFO) of Ovid Therapeutics Inc . (NASDAQ:OVID), sold 3,902 shares of the company’s common stock. The shares were sold at a price of $0.56 each, amounting to a total transaction value of $2,185. The transaction occurs as OVID trades near its 52-week low of $0.53, down 84% over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels.
This transaction was conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units. Following this sale, Rona retains ownership of 67,973 shares in the company. The sale was mandated by Ovid Therapeutics’ equity incentive plans and does not reflect a discretionary decision by the executive. The company maintains a strong liquidity position with a current ratio of 5.66 and more cash than debt on its balance sheet. Investors can access more detailed financial insights and 13 additional ProTips through InvestingPro, including analysis of the company’s upcoming earnings release on March 17.
In other recent news, Ovid Therapeutics Inc. has received a warning from the Nasdaq Stock Market LLC due to its non-compliance with the minimum bid price requirement. The company’s stock has been trading below the required $1.00 per share for 31 consecutive trading days. Ovid has until August 11, 2025, to rectify this issue by maintaining a closing bid price of at least $1.00 for ten consecutive business days. Failure to do so could lead to delisting, although the company may seek an additional 180-day period by transferring its listing to the Nasdaq Capital Market and meeting specific conditions.
In a separate development, Oppenheimer analyst Francois Brisebois upgraded Ovid Therapeutics from Perform to Outperform, setting a price target of $4.00. The upgrade highlights renewed confidence in Ovid’s pipeline, particularly the OV329 program, a next-generation GABA-AT inhibitor. Brisebois emphasized the program’s potential, noting its potency compared to previous treatments and its design to avoid ocular toxicity. This upgrade reflects Oppenheimer’s positive outlook on Ovid’s drug development efforts.
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