Affinity Asset Advisors LLC Acquires New Stake in Ovid Therapeutics $OVID

Key Points

• Affinity Asset Advisors LLC has invested approximately $208,000 in Ovid Therapeutics, acquiring 667,516 shares, which represents about 0.94% of the company's stock.
• Ovid Therapeutics reported an EPS of ($0.06), beating analyst expectations, with a revenue of $6.27 million for the quarter, reflecting significant improvement.
• The stock has received a "buy" rating from multiple brokerages, including B. Riley, which set a target price of $3.00, while the consensus target price stands at $3.10.

Affinity Asset Advisors LLC purchased a new position in shares of Ovid Therapeutics (NASDAQ:OVID - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 667,516 shares of the company's stock, valued at approximately $208,000. Affinity Asset Advisors LLC owned 0.94% of Ovid Therapeutics as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in Ovid Therapeutics by 699.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 560,830 shares of the company's stock worth $175,000 after buying an additional 490,716 shares during the period. Renaissance Technologies LLC raised its stake in Ovid Therapeutics by 142.0% during the 4th quarter. Renaissance Technologies LLC now owns 107,700 shares of the company's stock worth $101,000 after buying an additional 63,200 shares during the period. XTX Topco Ltd acquired a new position in Ovid Therapeutics during the 1st quarter worth approximately $29,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Ovid Therapeutics by 50.2% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 943,416 shares of the company's stock worth $881,000 after buying an additional 315,126 shares during the period. Finally, Velan Capital Investment Management LP acquired a new position in Ovid Therapeutics during the 4th quarter worth approximately $65,000. 72.24% of the stock is owned by institutional investors and hedge funds.

Ovid Therapeutics Stock Performance

Shares of Ovid Therapeutics stock traded up $0.03 during trading hours on Friday, reaching $1.28. The company had a trading volume of 1,865,154 shares, compared to its average volume of 1,773,136. Ovid Therapeutics has a one year low of $0.24 and a one year high of $1.47. The business has a fifty day simple moving average of $0.61 and a 200 day simple moving average of $0.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 4.72. The firm has a market cap of $91.02 million, a PE ratio of -2.42 and a beta of 0.20.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.10. Ovid Therapeutics had a negative return on equity of 58.87% and a negative net margin of 574.44%.The firm had revenue of $6.27 million during the quarter, compared to analyst estimates of $0.09 million. On average, analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OVID shares. HC Wainwright dropped their price target on Ovid Therapeutics from $2.00 to $1.50 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen raised Ovid Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, B. Riley reissued a "buy" rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, Ovid Therapeutics presently has an average rating of "Buy" and an average target price of $3.10.

About Ovid Therapeutics

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.