GSA Capital Partners LLP Raises Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

GSA Capital Partners LLP grew its holdings in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) by 118.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,509 shares of the company’s stock after purchasing an additional 141,002 shares during the period. GSA Capital Partners LLP owned approximately 0.37% of Ovid Therapeutics worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new stake in shares of Ovid Therapeutics during the 3rd quarter valued at $102,000. Driehaus Capital Management LLC purchased a new stake in shares of Ovid Therapeutics during the 2nd quarter valued at $1,077,000. DCF Advisers LLC lifted its holdings in shares of Ovid Therapeutics by 111.6% during the 2nd quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after purchasing an additional 22,020 shares during the last quarter. FFT Wealth Management LLC lifted its holdings in shares of Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after purchasing an additional 75,530 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Ovid Therapeutics by 22.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock valued at $54,000 after purchasing an additional 3,145 shares during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on OVID shares. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.04.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $1.05 on Friday. The firm has a market capitalization of $74.56 million, a price-to-earnings ratio of -2.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. The business has a fifty day moving average of $1.16 and a 200 day moving average of $1.47. Ovid Therapeutics Inc. has a 1 year low of $0.68 and a 1 year high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. As a group, research analysts expect that Ovid Therapeutics Inc. will post -0.49 earnings per share for the current year.

Ovid Therapeutics Company 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.