Fmr LLC Acquires 47,723 Shares of Ovid Therapeutics Inc. (NASDAQ:OVID)

Fmr LLC grew its holdings in Ovid Therapeutics Inc. (NASDAQ:OVID) by 1,907.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,225 shares of the company’s stock after buying an additional 47,723 shares during the period. Fmr LLC owned 0.07% of Ovid Therapeutics worth $59,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in Ovid Therapeutics by 118.0% during 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 during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Ovid Therapeutics during the 3rd quarter worth about $102,000. Driehaus Capital Management LLC acquired a new stake in shares of Ovid Therapeutics during the 2nd quarter worth about $1,077,000. DCF Advisers LLC boosted 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 worth $32,000 after buying an additional 22,020 shares during the period. Finally, FFT Wealth Management LLC grew its stake in Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after buying an additional 75,530 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Stock Up 1.7 %

NASDAQ OVID opened at $0.97 on Wednesday. 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 company has a market cap of $68.62 million, a price-to-earnings ratio of -2.06 and a beta of 0.29. The company has a 50 day moving average of $1.13 and a 200-day moving average of $1.15. 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 data 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 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%. On average, equities research analysts expect that Ovid Therapeutics Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on OVID shares. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. William Blair upgraded Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ovid Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.04.

Ovid Therapeutics 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.