Assenagon Asset Management S.A. Decreases Stock Position in Ovid Therapeutics $OVID

Assenagon Asset Management S.A. cut its position in Ovid Therapeutics (NASDAQ:OVID) by 33.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 618,019 shares of the company’s stock after selling 306,557 shares during the quarter. Assenagon Asset Management S.A. owned about 0.87% of Ovid Therapeutics worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in Ovid Therapeutics in the 3rd quarter worth about $33,000. Apollon Wealth Management LLC purchased a new stake in Ovid Therapeutics during the third quarter valued at about $36,000. Jane Street Group LLC bought a new position in Ovid Therapeutics during the second quarter worth about $47,000. Bank of America Corp DE boosted its position in 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 purchasing an additional 18,841 shares during the period. Finally, Velan Capital Investment Management LP increased its stake in shares of Ovid Therapeutics by 64.9% in the second quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after purchasing an additional 63,000 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Up 5.2%

Shares of NASDAQ:OVID opened at $2.22 on Wednesday. The firm has a fifty day moving average price of $1.81 and a two-hundred day moving average price of $1.63. The company has a market cap of $292.77 million, a price-to-earnings ratio of -7.16 and a beta of 0.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 8.97 and a quick ratio of 8.97. Ovid Therapeutics has a one year low of $0.24 and a one year high of $2.72.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. The firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.06 million. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.98%. Analysts anticipate that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $2.00 price objective on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Lifesci Capital assumed coverage on shares of Ovid Therapeutics in a report on Monday, December 22nd. They set an “outperform” rating and a $4.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, January 22nd. Finally, Roth Mkm assumed coverage on Ovid Therapeutics in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $4.38.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.