Assenagon Asset Management S.A. Buys 490,716 Shares of Ovid Therapeutics (NASDAQ:OVID)

Assenagon Asset Management S.A. lifted its position in shares of Ovid Therapeutics (NASDAQ:OVID) by 699.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 560,830 shares of the company’s stock after purchasing an additional 490,716 shares during the period. Assenagon Asset Management S.A. owned about 0.79% of Ovid Therapeutics worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OVID. Rhumbline Advisers raised its position in Ovid Therapeutics by 22.3% during the 4th quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after purchasing an additional 15,355 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Ovid Therapeutics by 1.1% during the fourth quarter. Kennedy Capital Management LLC now owns 1,545,387 shares of the company’s stock worth $1,443,000 after acquiring an additional 17,402 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ovid Therapeutics by 49.7% during the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after acquiring an additional 18,841 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Ovid Therapeutics by 142.0% in the fourth quarter. Renaissance Technologies LLC now owns 107,700 shares of the company’s stock worth $101,000 after acquiring an additional 63,200 shares during the period. Finally, Velan Capital Investment Management LP bought a new stake in Ovid Therapeutics in the fourth quarter valued at approximately $65,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OVID has been the subject of a number of recent analyst reports. HC Wainwright decreased their price target on Ovid Therapeutics from $2.00 to $1.50 and set a “buy” rating for the company in a report on Tuesday, May 27th. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research report on Thursday, April 24th. Wedbush reaffirmed an “outperform” rating and set a $3.00 price objective (down previously from $4.00) on shares of Ovid Therapeutics in a research report on Wednesday, March 12th. Finally, BTIG Research decreased their price target on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $3.13.

Ovid Therapeutics Price Performance

OVID stock opened at $0.31 on Friday. The firm has a 50 day moving average of $0.30 and a 200-day moving average of $0.54. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.22. Ovid Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.47. The firm has a market capitalization of $22.07 million, a P/E ratio of -0.89 and a beta of 0.08.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). Ovid Therapeutics had a negative net margin of 4,562.23% and a negative return on equity of 34.17%. The business had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.03 million. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Ovid Therapeutics Profile

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.