Ovid Therapeutics $OVID Position Cut by TLS Advisors LLC

TLS Advisors LLC lowered its holdings in shares of Ovid Therapeutics (NASDAQ:OVID) by 97.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,858 shares of the company’s stock after selling 662,109 shares during the period. Ovid Therapeutics makes up 0.1% of TLS Advisors LLC’s holdings, making the stock its 18th largest position. TLS Advisors LLC’s holdings in Ovid Therapeutics were worth $26,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in shares of Ovid Therapeutics by 12.8% during the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after purchasing an additional 237,445 shares during the period. Assenagon Asset Management S.A. grew its position in Ovid Therapeutics by 112.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock valued at $1,202,000 after buying an additional 488,956 shares in the last quarter. Rosalind Advisors Inc. acquired a new position in Ovid Therapeutics during the 2nd quarter valued at about $165,000. Marshall Wace LLP bought a new stake in shares of Ovid Therapeutics during the 2nd quarter worth about $54,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Ovid Therapeutics during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OVID shares. B. Riley reiterated a “buy” rating on shares of Ovid Therapeutics in a report on Friday, October 10th. Leerink Partners began coverage on Ovid Therapeutics in a research note on Monday, November 17th. They set an “outperform” rating and a $5.00 price target for the company. Lifesci Capital began coverage on Ovid Therapeutics in a research report on Monday, December 22nd. They set an “outperform” rating and a $4.00 price target on the stock. Roth Mkm initiated coverage on Ovid Therapeutics in a report on Thursday, December 11th. They issued a “buy” rating and a $3.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $2.00 target price on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.88.

Ovid Therapeutics Price Performance

NASDAQ OVID opened at $1.56 on Friday. Ovid Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.01. The business’s fifty day moving average is $1.64 and its two-hundred day moving average is $1.34. The stock has a market capitalization of $111.09 million, a P/E ratio of -3.12 and a beta of 0.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.24 and a current ratio of 4.24.

Ovid Therapeutics (NASDAQ:OVID) last issued its earnings results on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.17 million. Ovid Therapeutics had a negative return on equity of 63.79% and a negative net margin of 550.04%. On average, research analysts forecast that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Ovid Therapeutics Company 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.