Ovid Therapeutics $OVID Shares Acquired by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC lifted its position in Ovid Therapeutics (NASDAQ:OVID) by 48.8% in the 1st quarter, HoldingsChannel reports. The firm owned 10,636,318 shares of the company’s stock after purchasing an additional 3,486,318 shares during the quarter. Ovid Therapeutics makes up about 1.2% of Affinity Asset Advisors LLC’s portfolio, making the stock its 26th largest position. Affinity Asset Advisors LLC owned approximately 0.08% of Ovid Therapeutics worth $23,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC acquired a new stake in Ovid Therapeutics during the third quarter worth about $33,000. Jane Street Group LLC purchased a new position in shares of Ovid Therapeutics in the 2nd quarter valued at about $47,000. Total Clarity Wealth Management Inc. acquired a new position in Ovid Therapeutics in the 4th quarter worth about $47,000. State of Wyoming purchased a new position in Ovid Therapeutics during the first quarter worth approximately $49,000. Finally, LPL Financial LLC increased its position in shares of Ovid Therapeutics by 150.0% in the fourth quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock valued at $49,000 after buying an additional 18,000 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Trading Down 2.9%

Shares of Ovid Therapeutics stock opened at $2.33 on Friday. Ovid Therapeutics has a 1-year low of $0.47 and a 1-year high of $3.11. The stock has a market cap of $434.87 million, a P/E ratio of -8.03 and a beta of 0.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. The stock’s 50 day simple moving average is $2.46 and its 200-day simple moving average is $2.22.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, hitting 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%. Analysts predict that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on OVID. Roth Capital reissued a “buy” rating and issued a $7.00 price target on shares of Ovid Therapeutics in a research note on Thursday, May 14th. HC Wainwright lifted their target price on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. One 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. According to MarketBeat, Ovid Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $5.12.

Ovid Therapeutics 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.