Assenagon Asset Management S.A. Sells 390,277 Shares of Ovid Therapeutics $OVID

Assenagon Asset Management S.A. cut its holdings in Ovid Therapeutics (NASDAQ:OVID) by 63.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,742 shares of the company’s stock after selling 390,277 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Ovid Therapeutics worth $506,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OVID. Bank of America Corp DE boosted its stake in Ovid Therapeutics by 49.7% during the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after purchasing an additional 18,841 shares during the period. Acadian Asset Management LLC increased its position in Ovid Therapeutics by 12.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock worth $650,000 after buying an additional 237,445 shares during the period. Marshall Wace LLP acquired a new position in shares of Ovid Therapeutics during the second quarter worth approximately $54,000. Jane Street Group LLC acquired a new position in shares of Ovid Therapeutics during the second quarter worth approximately $47,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Ovid Therapeutics in the second quarter valued at approximately $165,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of OVID opened at $2.69 on Friday. The company has a market capitalization of $502.06 million, a P/E ratio of -9.28 and a beta of 0.18. Ovid Therapeutics has a one year low of $0.33 and a one year high of $3.11. The business’s 50 day simple moving average is $2.54 and its 200-day simple moving average is $2.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Tuesday, April 21st. Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. HC Wainwright raised their price target on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Roth Mkm restated a “buy” rating and set a $7.00 price objective on shares of Ovid Therapeutics in a 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.12.

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.