Y Intercept Hong Kong Ltd Purchases New Shares in Ovid Therapeutics $OVID

Y Intercept Hong Kong Ltd purchased a new stake in Ovid Therapeutics (NASDAQ:OVID) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 160,306 shares of the company’s stock, valued at approximately $53,000. Y Intercept Hong Kong Ltd owned 0.23% of Ovid Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted 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 worth $650,000 after buying an additional 237,445 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Ovid Therapeutics by 15.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,150,000 shares of the company’s stock worth $359,000 after acquiring an additional 150,000 shares during the period. Affinity Asset Advisors LLC bought a new position in Ovid Therapeutics during the first quarter worth about $208,000. Nuveen LLC acquired a new stake in Ovid Therapeutics in the 1st quarter worth about $37,000. Finally, XTX Topco Ltd bought a new stake in Ovid Therapeutics in the 1st quarter valued at about $29,000. 72.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in 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 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Ovid Therapeutics in a research report on Friday, October 10th. Finally, Oppenheimer began coverage on Ovid Therapeutics in a report on Thursday, October 9th. They set an “outperform” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.70.

Ovid Therapeutics Stock Down 0.8%

NASDAQ OVID opened at $1.32 on Monday. The business has a fifty day moving average price of $1.44 and a two-hundred day moving average price of $0.81. The stock has a market capitalization of $93.87 million, a PE ratio of -2.49 and a beta of 0.31. Ovid Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $2.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 4.72.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.10. Ovid Therapeutics had a negative return on equity of 58.87% and a negative net margin of 574.44%.The company had revenue of $6.27 million for the quarter, compared to analyst estimates of $0.09 million. Equities analysts expect that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.