Verition Fund Management LLC Makes New $88,000 Investment in Ovid Therapeutics Inc. (NASDAQ:OVID)

Verition Fund Management LLC purchased a new stake in Ovid Therapeutics Inc. (NASDAQ:OVID) during the third quarter, HoldingsChannel.com reports. The firm purchased 74,875 shares of the company’s stock, valued at approximately $88,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DCF Advisers LLC lifted its stake in Ovid Therapeutics by 111.6% in the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock valued at $32,000 after buying an additional 22,020 shares during the period. FMR LLC raised its position in shares of Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after acquiring an additional 47,723 shares during the period. FFT Wealth Management LLC raised its position in shares of Ovid Therapeutics by 18.2% in the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock valued at $377,000 after acquiring an additional 75,530 shares during the period. Assenagon Asset Management S.A. bought a new position in Ovid Therapeutics during the 3rd quarter worth approximately $102,000. Finally, GSA Capital Partners LLP grew its holdings in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after purchasing an additional 141,002 shares during the period. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Trading Up 1.0 %

OVID opened at $1.06 on Wednesday. The stock has a market capitalization of $75.27 million, a P/E ratio of -2.26 and a beta of 0.29. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics Inc. has a 12 month low of $0.68 and a 12 month high of $4.10. The firm’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.21.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.15 million. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. As a group, research analysts anticipate that Ovid Therapeutics Inc. will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

OVID has been the subject of a number of recent analyst reports. William Blair upgraded shares of Ovid Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.04.

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.