Parkman Healthcare Partners LLC Invests $532,000 in Ovid Therapeutics $OVID

Parkman Healthcare Partners LLC acquired a new position in Ovid Therapeutics (NASDAQ:OVID) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 197,947 shares of the company’s stock, valued at approximately $532,000. Parkman Healthcare Partners LLC owned approximately 0.11% of Ovid Therapeutics at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC purchased a new position in shares of Ovid Therapeutics during the 3rd quarter valued at about $33,000. Legal & General Group Plc purchased a new stake in Ovid Therapeutics in the 2nd quarter worth approximately $40,000. Total Clarity Wealth Management Inc. bought a new stake in Ovid Therapeutics during the 4th quarter worth approximately $47,000. Jane Street Group LLC purchased a new position in Ovid Therapeutics during the second quarter valued at approximately $47,000. Finally, State of Wyoming bought a new position in shares of Ovid Therapeutics in the first quarter worth approximately $49,000. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

Ovid Therapeutics stock opened at $2.82 on Tuesday. The company has a market cap of $550.75 million, a PE ratio of -9.10 and a beta of 0.21. Ovid Therapeutics has a twelve month low of $1.05 and a twelve month high of $3.11. The company has a quick ratio of 12.39, a current ratio of 12.39 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $2.54 and its 200-day moving average price is $2.36.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The business had revenue of $0.73 million for the quarter, compared to the consensus estimate of $0.02 million. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%. On average, equities research analysts forecast that Ovid Therapeutics will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.