Sei Investments Co. Purchases Shares of 328,924 Ovid Therapeutics $OVID

Sei Investments Co. bought a new position in shares of Ovid Therapeutics (NASDAQ:OVID) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 328,924 shares of the company’s stock, valued at approximately $730,000.

Several other hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC acquired a new stake in shares of Ovid Therapeutics in the third quarter worth $33,000. Jane Street Group LLC purchased a new stake in Ovid Therapeutics during the 2nd quarter worth $47,000. Total Clarity Wealth Management Inc. purchased a new stake in Ovid Therapeutics during the 4th quarter worth $47,000. State of Wyoming acquired a new stake in Ovid Therapeutics in the 1st quarter valued at $49,000. Finally, LPL Financial LLC increased its holdings in Ovid Therapeutics by 150.0% in the 4th quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock valued at $49,000 after purchasing an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Up 6.9%

OVID stock opened at $2.80 on Friday. The stock has a market cap of $522.59 million, a PE ratio of -9.66 and a beta of 0.21. The firm’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $2.30. Ovid Therapeutics has a fifty-two week low of $0.76 and a fifty-two week high of $3.11. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $0.73 million during the quarter, compared to analyst estimates of $0.02 million. Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. As a group, sell-side analysts predict that Ovid Therapeutics will post -0.5 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on OVID. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Oppenheimer increased their price objective on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Roth Capital reissued a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.71.

Ovid Therapeutics Company Profile

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.