OVID
Ovid Therapeutics Inc.Healthcare·Biotechnology
$2.73
$360M market cap
Revenue
$0.7M
Free Cash Flow
$-24.3M
Rev Growth
+0.0%
FCF Margin
-3385.4%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 is in Phase 2A clinical trials for the treatment of fragile X syndrome; OV329, a GABA aminotransferase inhibitor for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule for treating epilepsies. It also develops OV882,
2-Year Price History
$2.47-16.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -17.8 | -17.9 | -17.0 | -13.9 | -13.9 | -0.0 | 155.5 | 1.5 | 73.7 | -64.4% | -- | -- |
| Act | 2025-Q4 | 0.7 | -12.3 | -12.3 | 9.7 | -10.4 | -10.4 | -0.0 | 69.6 | 13.4 | 81.7 | -88.0% | -- | -- |
Valuation & Metrics
Market Stats
Price$2.73
Market Cap$360M
Enterprise Value$206M
P/S Ratio501.4x
P/FCF--
EV/FCF--
FCF Margin (TTM)-3385.4%
FCF Yield-6.8%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.7M
Net Income$-7.3M
Free Cash Flow$-24.3M
Revenue Growth (YoY)+0.0%
EBITDA Margin-4190.4%
Net Margin-1020.2%
FCF Margin-3385.4%
CapEx % of Revenue0.0%
SBC % of Revenue166.4%
ROIC-76.2%
WC Change % Rev963.8%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares8.5M
Days to Cover4.4
Change (vs Prior)+22.6%
Need at least 2 settlement dates for chart
Employees
Headcount23
Revenue / Employee$31,217
Gross Profit / Employee$29,696
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
63.8%(+60.3% YoY)
92 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
6.6%(+5.6% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
1.9%(+1.9% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $23.8M | $1.63 | +$0 | +$23.8M | -4.4% | $9.44B |
| JANUS HENDERSON GROUP PLC | $23.7M | $2.22 | +$23.8M | +$23.7M | +1.2% | $209.29B |
| Affinity Asset Advisors, LLC | $23.6M | $1.68 | +$7.7M | +$22.1M | +0.5% | $1.60B |
| EVENTIDE ASSET MANAGEMENT, LLC | $22.0M | $1.97 | +$12.5M | +$22.0M | -1.6% | $5.96B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $13.7M | $1.73 | +$5.9M | +$11.1M | -0.1% | $64.61B |
| BALYASNY ASSET MANAGEMENT LLC | $12.3M | $2.12 | +$11.6M | +$12.3M | -0.4% | $48.01B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $11.7M | $2.22 | +$11.7M | +$11.7M | — | $4.04T |
| ADAR1 Capital Management, LLC | $10.1M | $1.65 | +$575K | +$9.8M | +8.3% | $1.64B |
| Saturn V Capital Management LP | $9.2M | $1.87 | +$3.7M | +$9.2M | +1.6% | $552M |
| FEDERATED HERMES, INC. | $7.9M | $1.63 | +$0 | +$7.9M | -1.1% | $61.33B |
| Ikarian Capital, LLC | $6.4M | $1.96 | +$5.9M | +$6.4M | -8.9% | $698M |
| Ally Bridge Group (NY) LLC | $6.3M | $1.85 | +$2.3M | +$6.3M | -4.8% | $101M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $4.3M | $1.94 | +$3.6M | +$4.1M | -0.6% | $77.14B |
| Blue Owl Capital Holdings LP | $4.2M | $2.67 | +$2.3M | +$4.2M | -2.2% | $372M |
| SPHERA FUNDS MANAGEMENT LTD. | $3.6M | $2.22 | +$3.2M | +$3.6M | — | $575M |
| BlackRock, Inc.Passive | $3.4M | $1.36 | +$2.0M | −$5.2M | -0.2% | $5.69T |
| MILLENNIUM MANAGEMENT LLC | $3.3M | $0.98 | +$349K | +$3.3M | -0.5% | $127.40B |
| Point72 Asset Management, L.P. | $2.9M | $1.63 | −$5.0M | +$2.9M | +0.9% | $54.88B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $2.9M | $2.67 | +$1.4M | −$29K | +2.3% | $1.61T |
| TWO SIGMA INVESTMENTS, LP | $2.8M | $1.85 | +$1.5M | +$2.8M | -0.9% | $117.03B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-0.82%
avg per quarter
Holders (ex-self)
-0.69%
excl. this stock
Buyers (this Q)
-0.54%
56 buyers · $0.13B in
Sellers (this Q)
+1.52%
23 sellers · $0.00B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+4.6%
how holders react when this stock falls
On quiet Qs
-15.2%
−10% to +10% baseline
On rallies (+10%+)
-8.2%
how they react when this stock rises
Holders' portfolio flow this Q
+3.3%
inflows — adds are organic
Sellers' portfolio flow this Q
-14.4%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-6.4%
Holder mid (any stock)
-4.1%
Holder rally (any stock)
-9.4%
Biggest decreases this quarter
Point72 Asset Management, L.P.−$5.0Mα+0.9ACADIAN ASSET MANAGEMENT LLCexited−$2.0MAWM Investment Company, Inc.exited−$1.5MRENAISSANCE TECHNOLOGIES LLC−$844Kα+1.2Sio Capital Management, LLC−$389Kα-1.2Graham Capital Management, L.P.exited−$208KNINE MASTS CAPITAL Ltdexited−$23KTower Research Capital LLC (TRC)exited−$17KSepio Capital, LPexited−$17KNorth Star Investment Management Corp.exited−$2K
New buyers this quarter
Top-5 holders · 45.8%
RA CAPITAL MANAGEMENT, L.P.--
JANUS HENDERSON GROUP PLC--
Affinity Asset Advisors, LLC--
EVENTIDE ASSET MANAGEMENT, LLC--
ADAGE CAPITAL PARTNERS GP, L.L.C.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
BVF INC/IL—TAKEDA PHARMACEUTICAL CO LTD—RA CAPITAL MANAGEMENT, L.P.10.7MEcoR1 Capital, LLC—JANUS HENDERSON GROUP PLC10.7MAffinity Asset Advisors, LLC10.6MEVENTIDE ASSET MANAGEMENT, LLC9.9MRubric Capital Management LP—Madison Avenue Partners, LP—ADAGE CAPITAL PARTNERS GP, L.L.C.6.2M
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$5.5010150.0%
Last Year (4 analysts)$4.004650.0%
Current Price$2.73
Analyst Ratings
11
3
Buy: 11Hold: 3Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$116K
1 txn · 1 insider · 82,904 sh
Sells ($, 12mo)
$29K
2 txns · 2 insiders · 20,197 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-02-23 | SELL | ALEXANDER MARGARET A. | director, officer: President and CEO | 11,656 | $1.45 | $17K | $90K |
| 2026-02-23 | SELL | Rona Jeffrey A | officer: CBFO | 8,541 | $1.45 | $12K | $128K |
| 2025-12-11 | BUY | LEVIN JEREMY M | director, officer: CEO | 82,904 | $1.40 | $116K | $66K |
Order Flow (FINRA, ~3w lag)
23.9%retail-13.1pp
23.5%dark+7.7pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Ovid Therapeutics Inc.: Non-Cash Equity Gains and Massive Warrant-Driven Dilution Mask Biotech Burn
Overall Risk
8/10
Fraud
4/10
Dilution
10/10
Insolvency
6/10
Earnings Overstated
9/10
Hidden Liabilities
3/10
Legal
2/10
Audit Warnings
4/10
Hidden Upside
5/10
Contextually Acceptable
5/10