Jane Street Group LLC Decreases Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

Jane Street Group LLC cut its stake in Ovid Therapeutics Inc. (NASDAQ:OVID) by 61.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,399 shares of the company’s stock after selling 60,191 shares during the quarter. Jane Street Group LLC’s holdings in Ovid Therapeutics were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new stake in Ovid Therapeutics during the second quarter valued at approximately $1,077,000. FMR LLC lifted its holdings in shares of Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after buying an additional 47,723 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after purchasing an additional 215,189 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Ovid Therapeutics by 118.0% in the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after purchasing an additional 141,002 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Ovid Therapeutics during the 3rd quarter worth about $102,000. 72.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Two research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.04.

Ovid Therapeutics Stock Performance

Shares of Ovid Therapeutics stock opened at $0.76 on Thursday. The firm has a market capitalization of $54.10 million, a P/E ratio of -1.62 and a beta of 0.34. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.07. Ovid Therapeutics Inc. has a 52 week low of $0.68 and a 52 week high of $4.10.

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

About Ovid Therapeutics

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.