Braidwell LP Makes New $15.92 Million Investment in Ovid Therapeutics $OVID

Braidwell LP acquired a new stake in Ovid Therapeutics (NASDAQ:OVID) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,919,464 shares of the company’s stock, valued at approximately $15,923,000.

A number of other institutional investors also recently modified their holdings of OVID. Bank of America Corp DE lifted its position in shares of Ovid Therapeutics by 49.7% during the fourth quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock worth $53,000 after purchasing an additional 18,841 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Ovid Therapeutics by 12.8% in the first quarter. Acadian Asset Management LLC now owns 2,088,046 shares of the company’s stock valued at $650,000 after purchasing an additional 237,445 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Ovid Therapeutics in the second quarter valued at approximately $54,000. Jane Street Group LLC bought a new position in Ovid Therapeutics in the 2nd quarter worth approximately $47,000. Finally, Rosalind Advisors Inc. bought a new position in Ovid Therapeutics in the 2nd quarter worth approximately $165,000. 72.24% of the stock is owned by institutional investors.

Ovid Therapeutics Trading Down 1.8%

Shares of NASDAQ OVID opened at $2.71 on Thursday. The company’s 50 day simple moving average is $2.60 and its 200 day simple moving average is $2.43. Ovid Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $3.11. The firm has a market capitalization of $529.26 million, a P/E ratio of -8.74 and a beta of 0.24. 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 announced 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. Ovid Therapeutics had a negative net margin of 240.11% and a negative return on equity of 23.64%. The firm had revenue of $0.73 million for the quarter, compared to analysts’ expectations of $0.02 million. On average, analysts predict that Ovid Therapeutics will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. B. Riley Financial reiterated a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Roth Capital restated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Oppenheimer upped their price target 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, Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.71.

Ovid Therapeutics 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.