GSA Capital Partners LLP Trims Holdings in Ovid Therapeutics $OVID

GSA Capital Partners LLP cut its position in shares of Ovid Therapeutics (NASDAQ:OVID) by 64.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,993 shares of the company’s stock after selling 476,197 shares during the quarter. GSA Capital Partners LLP’s holdings in Ovid Therapeutics were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC acquired a new stake in Ovid Therapeutics during the third quarter worth approximately $36,000. Jane Street Group LLC acquired a new position in Ovid Therapeutics in the 2nd quarter valued at $47,000. Velan Capital Investment Management LP lifted its stake in shares of Ovid Therapeutics by 64.9% during the 2nd quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after purchasing an additional 63,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Ovid Therapeutics during the second quarter worth $53,000. Finally, Bank of America Corp DE boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Lifesci Capital initiated coverage on Ovid Therapeutics in a research report on Monday, December 22nd. They set an “outperform” rating and a $4.00 target price on the stock. Roth Mkm initiated coverage on shares of Ovid Therapeutics in a research note on Thursday, December 11th. They set a “buy” rating and a $3.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $2.00 price objective on shares of Ovid Therapeutics in a report on Monday, December 22nd. Leerink Partners started coverage on shares of Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.88.

Ovid Therapeutics Stock Performance

NASDAQ OVID opened at $1.65 on Friday. The firm has a market capitalization of $117.50 million, a P/E ratio of -3.30 and a beta of 0.25. Ovid Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.24 and a quick ratio of 4.24. The business’s 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.46.

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.