Fmr LLC Purchases 47,723 Shares of Ovid Therapeutics Inc. (NASDAQ:OVID)

Fmr LLC increased its position in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) by 1,907.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,225 shares of the company’s stock after acquiring an additional 47,723 shares during the period. Fmr LLC’s holdings in Ovid Therapeutics were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OVID. DCF Advisers LLC grew its holdings in shares of Ovid Therapeutics by 111.6% during the second quarter. DCF Advisers LLC now owns 41,750 shares of the company’s stock worth $32,000 after purchasing an additional 22,020 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Ovid Therapeutics during the 3rd quarter worth approximately $102,000. GSA Capital Partners LLP boosted its position in Ovid Therapeutics by 118.0% during the 3rd quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock worth $307,000 after buying an additional 141,002 shares during the period. FFT Wealth Management LLC grew its holdings in Ovid Therapeutics by 18.2% during the 2nd quarter. FFT Wealth Management LLC now owns 489,552 shares of the company’s stock worth $377,000 after acquiring an additional 75,530 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Ovid Therapeutics in the 2nd quarter valued at approximately $1,077,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

Shares of Ovid Therapeutics stock opened at $0.97 on Wednesday. The company has a market cap of $68.62 million, a P/E ratio of -2.06 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. The business has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.15. Ovid Therapeutics Inc. has a 1-year low of $0.68 and a 1-year high of $4.10.

Ovid Therapeutics (NASDAQ:OVID) last released its earnings results 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 return on equity of 39.24% and a negative net margin of 5,142.56%. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.15 million. As a group, analysts anticipate that Ovid Therapeutics Inc. will post -0.48 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on OVID shares. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a research note on Wednesday, December 4th. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Two 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.04.

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.