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Margaret A. Alexander, President and Chief Operating Officer of Ovid Therapeutics Inc . (NASDAQ:OVID), reported a sale of 5,279 shares of the company’s common stock on February 26, 2025, according to a recent SEC filing. The shares were sold at a price of $0.56 each, totaling $2,956. The transaction occurs as OVID trades near its 52-week low of $0.53, down 84.5% over the past year. InvestingPro analysis suggests the stock is currently undervalued.
This transaction, as detailed in the filing, was conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units. Following this sale, Alexander retains direct ownership of 73,406 shares of Ovid Therapeutics. The company maintains strong liquidity with a current ratio of 5.66 and is scheduled to report earnings on March 17, 2025. For deeper insights into OVID’s financial health and additional analysis, InvestingPro subscribers have access to over 10 exclusive ProTips and comprehensive financial metrics.
In other recent news, Ovid Therapeutics has received a warning from the Nasdaq Stock Market regarding its non-compliance with the minimum bid price requirement. The company’s stock has been trading below the required $1.00 per share for the past 31 consecutive trading days. Ovid has until August 11, 2025, to address this issue, and it is considering options to regain compliance, such as maintaining a closing bid price of at least $1.00 for ten consecutive business days. Failure to meet these conditions could result in delisting, though the company may appeal or transfer its listing to the Nasdaq Capital Market.
Additionally, Oppenheimer analyst Francois Brisebois has upgraded Ovid Therapeutics from Perform to Outperform, setting a price target of $4.00. This upgrade reflects renewed confidence in the company’s pipeline, particularly the OV329 program, a next-generation GABA-AT inhibitor. Brisebois emphasized OV329’s potential, noting its potency and design to avoid ocular toxicity, which presents a therapeutic advantage. The analyst suggests developmental and epileptic encephalopathies could be a reasonable target for OV329. Oppenheimer’s optimism is based on the program’s stage of development and mechanism of action history.
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