218,851 Shares in Ovid Therapeutics $OVID Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new position in shares of Ovid Therapeutics (NASDAQ:OVID) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 218,851 shares of the company’s stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ally Bridge Group NY LLC grew its stake in shares of Ovid Therapeutics by 57.9% in the 1st quarter. Ally Bridge Group NY LLC now owns 2,818,459 shares of the company’s stock valued at $6,257,000 after purchasing an additional 1,033,459 shares during the period. Affinity Asset Advisors LLC raised its holdings in shares of Ovid Therapeutics by 48.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 10,636,318 shares of the company’s stock worth $23,613,000 after buying an additional 3,486,318 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Ovid Therapeutics during the 1st quarter worth approximately $23,732,000. ADAR1 Capital Management LLC lifted its position in shares of Ovid Therapeutics by 6.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 4,544,113 shares of the company’s stock worth $10,088,000 after buying an additional 259,113 shares during the period. Finally, Eventide Asset Management LLC acquired a new stake in Ovid Therapeutics in the 4th quarter valued at $6,985,000. Institutional investors own 72.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer upped their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded shares of Ovid Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Finally, Roth Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. One investment 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, Ovid Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $5.71.

Ovid Therapeutics Trading Up 1.7%

OVID stock opened at $2.93 on Friday. The business has a fifty day moving average price of $2.57 and a 200 day moving average price of $2.39. Ovid Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $3.11. The stock has a market capitalization of $572.23 million, a price-to-earnings ratio of -9.45 and a beta of 0.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.39 and a quick ratio of 12.39.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $0.73 million for the quarter, compared to analyst estimates of $0.02 million. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%. Analysts expect that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

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.