Janus Henderson Group PLC Acquires Shares of 10,714,000 Ovid Therapeutics $OVID

Janus Henderson Group PLC bought a new position in shares of Ovid Therapeutics (NASDAQ:OVID) in the first quarter, Holdings Channel reports. The institutional investor bought 10,714,000 shares of the company’s stock, valued at approximately $23,732,000. Janus Henderson Group PLC owned 0.08% of Ovid Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after buying an additional 18,841 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Ovid Therapeutics by 12.8% during the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after acquiring an additional 237,445 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Ovid Therapeutics during the second quarter valued at approximately $54,000. Jane Street Group LLC purchased a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $47,000. Finally, Rosalind Advisors Inc. purchased a new position in shares of Ovid Therapeutics in the second quarter valued at approximately $165,000. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Trading Up 5.0%

OVID opened at $2.33 on Tuesday. The firm has a market capitalization of $434.87 million, a price-to-earnings ratio of -8.03 and a beta of 0.21. The company’s 50 day simple moving average is $2.45 and its two-hundred day simple moving average is $2.25. Ovid Therapeutics has a 1-year low of $0.47 and a 1-year high of $3.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.17 and a quick ratio of 10.17.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting 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%. Analysts expect that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. HC Wainwright boosted their price target on Ovid Therapeutics from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. B. Riley Financial restated a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Oppenheimer upped their target price on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Roth Capital reiterated a “buy” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

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.