Affinity Asset Advisors LLC Acquires 3,486,318 Shares of Ovid Therapeutics $OVID

Affinity Asset Advisors LLC boosted its holdings in Ovid Therapeutics (NASDAQ:OVID) by 48.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,636,318 shares of the company’s stock after buying an additional 3,486,318 shares during the quarter. Ovid Therapeutics accounts for approximately 1.2% of Affinity Asset Advisors LLC’s holdings, making the stock its 26th biggest position. Affinity Asset Advisors LLC owned approximately 8.07% of Ovid Therapeutics worth $23,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. purchased a new position in shares of Ovid Therapeutics in the 1st quarter worth $730,000. State of Wyoming bought a new stake in shares of Ovid Therapeutics during the 1st quarter valued at $49,000. Simplify Asset Management Inc. bought a new stake in shares of Ovid Therapeutics during the 1st quarter valued at $290,000. Sovereign Financial Group Inc. increased its stake in shares of Ovid Therapeutics by 200.0% in the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock worth $67,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Ovid Therapeutics in the 4th quarter worth $54,000. Institutional investors own 72.24% of the company’s stock.

Analyst Upgrades and Downgrades

OVID has been the topic of several analyst reports. Roth Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. B. Riley Financial reiterated a “buy” rating on shares of Ovid Therapeutics in a research note on Tuesday. Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.00 price target on shares of Ovid Therapeutics in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.12.

Ovid Therapeutics Stock Performance

OVID stock opened at $2.33 on Friday. The firm has a market cap of $434.87 million, a price-to-earnings ratio of -8.03 and a beta of 0.18. The firm has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $2.22. Ovid Therapeutics has a one year low of $0.47 and a one year high of $3.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.17 and a current ratio of 10.17.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 22.51%. On average, equities analysts forecast that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Ovid Therapeutics Profile

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.