FFT Wealth Management LLC Invests $1.27 Million in Ovid Therapeutics Inc. (NASDAQ:OVID)

FFT Wealth Management LLC acquired a new position in Ovid Therapeutics Inc. (NASDAQ:OVID - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 395,774 shares of the company's stock, valued at approximately $1,274,000. FFT Wealth Management LLC owned approximately 0.56% of Ovid Therapeutics as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new stake in Ovid Therapeutics during the 4th quarter valued at $26,000. Jump Financial LLC acquired a new stake in shares of Ovid Therapeutics during the third quarter valued at $61,000. SG Americas Securities LLC acquired a new stake in shares of Ovid Therapeutics during the third quarter valued at $100,000. Assenagon Asset Management S.A. purchased a new stake in Ovid Therapeutics during the 4th quarter worth about $253,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Ovid Therapeutics by 17.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 81,173 shares of the company's stock valued at $312,000 after purchasing an additional 11,926 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on OVID shares. Wedbush began coverage on shares of Ovid Therapeutics in a research note on Friday, April 5th. They set an "outperform" rating and a $8.00 price target on the stock. B. Riley initiated coverage on shares of Ovid Therapeutics in a research report on Tuesday. They set a "buy" rating and a $9.00 target price on the stock. Finally, HC Wainwright started coverage on Ovid Therapeutics in a report on Monday. They issued a "buy" rating and a $9.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Ovid Therapeutics presently has an average rating of "Buy" and a consensus price target of $9.00.

Insider Activity

In other news, CEO Jeremy M. Levin bought 18,248 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average cost of $2.76 per share, with a total value of $50,364.48. Following the transaction, the chief executive officer now owns 3,616,715 shares of the company's stock, valued at approximately $9,982,133.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.60% of the company's stock.

Ovid Therapeutics Trading Up 0.3 %

Shares of NASDAQ OVID traded up $0.01 on Wednesday, reaching $3.06. 222,034 shares of the company traded hands, compared to its average volume of 195,069. The stock has a market capitalization of $216.68 million, a PE ratio of -4.07 and a beta of 0.71. Ovid Therapeutics Inc. has a fifty-two week low of $2.57 and a fifty-two week high of $4.14. The company has a current ratio of 9.55, a quick ratio of 9.55 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $3.16 and a 200 day moving average of $3.33.

Ovid Therapeutics (NASDAQ:OVID - Get Free Report) last released its earnings results on Friday, March 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.05). The company had revenue of $0.14 million during the quarter, compared to analysts' expectations of $0.10 million. Ovid Therapeutics had a negative net margin of 13,351.53% and a negative return on equity of 49.76%. On average, equities research analysts forecast that Ovid Therapeutics Inc. will post -0.65 earnings per share for the current fiscal year.

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.

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