Ally Bridge Group NY LLC raised its stake in Ovid Therapeutics (NASDAQ:OVID - Free Report) by 57.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,818,459 shares of the company's stock after buying an additional 1,033,459 shares during the quarter. Ovid Therapeutics accounts for about 5.1% of Ally Bridge Group NY LLC's portfolio, making the stock its 3rd largest position. Ally Bridge Group NY LLC owned approximately 2.14% of Ovid Therapeutics worth $6,257,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Wyoming acquired a new position in shares of Ovid Therapeutics during the 1st quarter worth about $49,000. Private Advisor Group LLC acquired a new stake in shares of Ovid Therapeutics in the 3rd quarter valued at approximately $33,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Ovid Therapeutics in the 4th quarter valued at approximately $47,000. Sovereign Financial Group Inc. boosted its stake in Ovid Therapeutics by 200.0% during the 1st quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company's stock worth $67,000 after acquiring an additional 20,000 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Ovid Therapeutics by 150.0% during the 4th quarter. LPL Financial LLC now owns 30,000 shares of the company's stock worth $49,000 after acquiring an additional 18,000 shares during the last quarter. Institutional investors own 72.24% of the company's stock.
Ovid Therapeutics Price Performance
Shares of NASDAQ OVID opened at $2.36 on Wednesday. The company has a fifty day moving average price of $2.46 and a 200 day moving average price of $2.23. The firm has a market cap of $440.47 million, a PE ratio of -8.14 and a beta of 0.18. The company has a current ratio of 10.17, a quick ratio of 10.17 and a debt-to-equity ratio of 0.06. Ovid Therapeutics has a 1-year low of $0.47 and a 1-year high of $3.11.
Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. Research analysts predict that Ovid Therapeutics will post -0.5 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
OVID has been the subject of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ovid Therapeutics in a report on Friday, July 17th. B. Riley Financial reissued a "buy" rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Ovid Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Roth Capital restated a "buy" rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ovid Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $5.12.
Check Out Our Latest Report on Ovid Therapeutics
About Ovid Therapeutics
(
Free Report)
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.
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