Bank of New York Mellon Corp Sells 11,390 Shares of Ovid Therapeutics Inc. (NASDAQ:OVID)

Bank of New York Mellon Corp lowered its holdings in Ovid Therapeutics Inc. (NASDAQ:OVID) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,163 shares of the company’s stock after selling 11,390 shares during the period. Bank of New York Mellon Corp’s holdings in Ovid Therapeutics were worth $168,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in Ovid Therapeutics by 66.0% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock valued at $41,000 after buying an additional 5,401 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ovid Therapeutics by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,396 shares of the company’s stock worth $54,000 after acquiring an additional 3,145 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Ovid Therapeutics by 74.7% in the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after acquiring an additional 13,756 shares during the period. Vestal Point Capital LP purchased a new position in shares of Ovid Therapeutics in the fourth quarter valued at $275,000. Finally, Empowered Funds LLC raised its stake in shares of Ovid Therapeutics by 8.1% during the 1st quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock valued at $391,000 after purchasing an additional 9,625 shares during the period. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Ovid Therapeutics Stock Performance

Shares of OVID opened at $1.12 on Friday. Ovid Therapeutics Inc. has a 1-year low of $0.68 and a 1-year high of $4.10. The company has a market capitalization of $79.46 million, a P/E ratio of -1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.73 and a quick ratio of 5.73. The firm’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $2.02.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. Ovid Therapeutics had a negative net margin of 5,237.15% and a negative return on equity of 33.40%. The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.14 million. Sell-side analysts forecast that Ovid Therapeutics Inc. will post -0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on OVID. Oppenheimer downgraded Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 18th. B. Riley cut their price objective on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. BTIG Research reduced their price objective on shares of Ovid Therapeutics from $11.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research note on Monday, August 19th. Finally, William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.70.

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.