Dimensional Fund Advisors LP Trims Stock Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

Dimensional Fund Advisors LP cut its holdings in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,982 shares of the company’s stock after selling 67,187 shares during the quarter. Dimensional Fund Advisors LP owned about 0.39% of Ovid Therapeutics worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. FFT Wealth Management LLC lifted its position in Ovid Therapeutics by 18.2% during the second quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after buying an additional 75,530 shares during the period. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 3,145 shares during the period. Empowered Funds LLC lifted its position in Ovid Therapeutics by 8.1% during the first quarter. Empowered Funds LLC now owns 128,070 shares of the company’s stock worth $391,000 after buying an additional 9,625 shares during the period. BNP Paribas Financial Markets lifted its position in Ovid Therapeutics by 74.7% during the first quarter. BNP Paribas Financial Markets now owns 32,162 shares of the company’s stock worth $98,000 after buying an additional 13,756 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Ovid Therapeutics by 66.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,579 shares of the company’s stock worth $41,000 after buying an additional 5,401 shares during the period. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on OVID shares. Oppenheimer downgraded Ovid Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 18th. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research report on Monday, September 30th. B. Riley decreased their target price on shares of Ovid Therapeutics from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Citigroup cut their price objective on shares of Ovid Therapeutics from $3.50 to $1.20 and set a “neutral” rating on the stock in a report on Tuesday, June 18th. Finally, William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.04.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $1.14 on Tuesday. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.16. Ovid Therapeutics Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $4.10. The firm has a 50-day simple moving average of $1.11 and a 200 day simple moving average of $1.85. The company has a market cap of $80.88 million, a PE ratio of -1.56 and a beta of 0.39.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $0.14 million. On average, sell-side analysts anticipate that Ovid Therapeutics Inc. will post -0.49 EPS for the current year.

Ovid Therapeutics Company 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.