Assenagon Asset Management S.A. Has $506,000 Stock Position in Ovid Therapeutics $OVID

Assenagon Asset Management S.A. lowered its position in shares of Ovid Therapeutics (NASDAQ:OVID) by 63.1% in the first quarter, HoldingsChannel reports. The fund owned 227,742 shares of the company’s stock after selling 390,277 shares during the period. Assenagon Asset Management S.A.’s holdings in Ovid Therapeutics were worth $506,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OVID. Sovereign Financial Group Inc. boosted its holdings in Ovid Therapeutics by 200.0% in the first quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock valued at $67,000 after acquiring an additional 20,000 shares during the last quarter. Invesco Ltd. acquired a new position in Ovid Therapeutics during the 4th quarter valued at about $54,000. ADAR1 Capital Management LLC lifted its position in Ovid Therapeutics by 33,256.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 4,285,000 shares of the company’s stock valued at $6,985,000 after purchasing an additional 4,272,154 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Ovid Therapeutics by 217.2% in the 4th quarter. Quadrature Capital Ltd now owns 87,874 shares of the company’s stock valued at $143,000 after purchasing an additional 60,171 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Ovid Therapeutics by 35.8% in the 4th quarter. Millennium Management LLC now owns 1,339,465 shares of the company’s stock valued at $2,183,000 after purchasing an additional 353,172 shares during the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

NASDAQ:OVID opened at $2.69 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17. The business’s 50-day simple moving average is $2.54 and its 200-day simple moving average is $2.13. Ovid Therapeutics has a fifty-two week low of $0.33 and a fifty-two week high of $3.11. The stock has a market capitalization of $502.06 million, a PE ratio of -9.28 and a beta of 0.18.

Ovid Therapeutics (NASDAQ:OVID) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. Sell-side analysts expect that Ovid Therapeutics will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on OVID. Wedbush reissued an “outperform” rating and set a $7.00 price target on shares of Ovid Therapeutics in a research note on Wednesday, April 15th. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, March 26th. HC Wainwright lifted their target price on shares of Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Roth Mkm reiterated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.12.

About Ovid Therapeutics

Ovid Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapies for rare neurological disorders. Founded in 2014 and headquartered in New York, the company applies a precision medicine approach to target underlying mechanisms of disease in patients with genetic conditions affecting the central nervous system. Its research platform centers on small-molecule modulators of neurotransmitter pathways to restore neural network function in disorders with high unmet medical need.

The company’s lead development candidate, OV101 (gaboxadol), is a selective extrasynaptic GABAA receptor agonist being investigated for the treatment of Angelman syndrome and Fragile X syndrome.