Sei Investments Co. Invests $730,000 in Ovid Therapeutics $OVID

Sei Investments Co. bought a new stake in Ovid Therapeutics (NASDAQ:OVID) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 328,924 shares of the company’s stock, valued at approximately $730,000. Sei Investments Co. owned about 0.25% of Ovid Therapeutics at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. RA Capital Management L.P. purchased a new position in Ovid Therapeutics during the fourth quarter worth about $17,464,000. Affinity Asset Advisors LLC increased its holdings in shares of Ovid Therapeutics by 169.8% in the 4th quarter. Affinity Asset Advisors LLC now owns 7,150,000 shares of the company’s stock valued at $11,654,000 after acquiring an additional 4,500,000 shares during the last quarter. Eventide Asset Management LLC purchased a new position in shares of Ovid Therapeutics in the 4th quarter valued at $6,985,000. ADAR1 Capital Management LLC grew its holdings in shares of Ovid Therapeutics by 33,256.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 4,285,000 shares of the company’s stock worth $6,985,000 after purchasing an additional 4,272,154 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Ovid Therapeutics during the fourth quarter worth approximately $5,307,000. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Ovid Therapeutics Price Performance

Ovid Therapeutics stock opened at $2.80 on Friday. Ovid Therapeutics has a 52 week low of $0.76 and a 52 week high of $3.11. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $2.30. The firm has a market capitalization of $522.59 million, a PE ratio of -9.66 and a beta of 0.21.

Ovid Therapeutics (NASDAQ:OVID) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, topping 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 22.51%. The business had revenue of $0.73 million during the quarter, compared to analysts’ expectations of $0.02 million. On average, equities research analysts predict that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OVID shares. B. Riley Financial restated a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Roth Capital restated a “buy” rating and issued a $7.00 price objective on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Finally, Oppenheimer raised their price target on Ovid Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.