Ovid Therapeutics Inc. (NASDAQ:OVID) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Ovid Therapeutics Inc. (NASDAQ:OVID) by 22.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,858 shares of the company’s stock after selling 9,062 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ovid Therapeutics were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Madison Avenue Partners LP increased its stake in Ovid Therapeutics by 95.2% in the fourth quarter. Madison Avenue Partners LP now owns 2,721,051 shares of the company’s stock valued at $5,061,000 after purchasing an additional 1,327,029 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ovid Therapeutics by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 3,687,909 shares of the company’s stock valued at $11,580,000 after buying an additional 245,291 shares during the period. Tejara Capital Ltd purchased a new stake in shares of Ovid Therapeutics during the 4th quarter valued at $200,000. Jane Street Group LLC acquired a new stake in shares of Ovid Therapeutics during the 1st quarter worth $199,000. Finally, State Street Corp boosted its holdings in Ovid Therapeutics by 32.4% in the first quarter. State Street Corp now owns 191,733 shares of the company’s stock valued at $602,000 after acquiring an additional 46,884 shares during the last quarter. 56.64% of the stock is owned by institutional investors and hedge funds.

Ovid Therapeutics Price Performance

OVID stock opened at $3.79 on Wednesday. The stock has a 50-day moving average price of $3.54 and a two-hundred day moving average price of $3.20. The company has a market cap of $267.57 million, a PE ratio of -5.41 and a beta of 1.08. The company has a current ratio of 10.07, a quick ratio of 10.07 and a debt-to-equity ratio of 0.14. Ovid Therapeutics Inc. has a 12-month low of $1.40 and a 12-month high of $4.14.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Friday, August 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. The firm had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.09 million. Ovid Therapeutics had a negative net margin of 24,867.17% and a negative return on equity of 38.92%. As a group, research analysts predict that Ovid Therapeutics Inc. will post -0.75 EPS for the current year.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.