Verition Fund Management LLC Makes New Investment in Ovid Therapeutics Inc. (NASDAQ:OVID)

Verition Fund Management LLC acquired a new position in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 74,875 shares of the company’s stock, valued at approximately $88,000. Verition Fund Management LLC owned approximately 0.11% of Ovid Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. DCF Advisers LLC boosted its stake in Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after buying an additional 22,020 shares in the last quarter. FMR LLC boosted its position in shares of Ovid Therapeutics by 1,907.4% during the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after acquiring an additional 47,723 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Ovid Therapeutics during the 3rd quarter valued at about $102,000. BNP Paribas Financial Markets increased its stake in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares during the period. Finally, GSA Capital Partners LLP raised its position in Ovid Therapeutics by 118.0% in the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after purchasing an additional 141,002 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Stock Up 1.0 %

Shares of OVID opened at $1.06 on Wednesday. The business’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.21. Ovid Therapeutics Inc. has a one year low of $0.68 and a one year high of $4.10. The company has a market capitalization of $75.27 million, a P/E ratio of -2.26 and a beta of 0.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last announced its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. As a group, sell-side analysts predict that Ovid Therapeutics Inc. will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

OVID has been the subject of a number of recent research reports. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ovid Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.04.

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.