Geode Capital Management LLC Acquires 14,816 Shares of Ovid Therapeutics Inc. (NASDAQ:OVID)

Geode Capital Management LLC grew its stake in Ovid Therapeutics Inc. (NASDAQ:OVID) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317,330 shares of the company’s stock after acquiring an additional 14,816 shares during the period. Geode Capital Management LLC owned 1.86% of Ovid Therapeutics worth $1,555,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OVID. Driehaus Capital Management LLC bought a new stake in shares of Ovid Therapeutics during the 2nd quarter worth approximately $1,077,000. FMR LLC raised its position in Ovid Therapeutics by 1,907.4% during the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares in the last quarter. BNP Paribas Financial Markets raised its position in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock worth $260,000 after acquiring an additional 215,189 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Ovid Therapeutics by 118.0% in the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after acquiring an additional 141,002 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Ovid Therapeutics in the 3rd quarter valued at about $102,000. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $0.91 on Thursday. The firm has a 50 day moving average of $1.08 and a 200-day moving average of $1.06. Ovid Therapeutics Inc. has a 12 month low of $0.68 and a 12 month high of $4.10. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $64.61 million, a PE ratio of -1.94 and a beta of 0.34.

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.