Monimus Capital Management LP Takes Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

Monimus Capital Management LP bought a new stake in Ovid Therapeutics Inc. (NASDAQ:OVID) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 138,266 shares of the company’s stock, valued at approximately $129,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its position in Ovid Therapeutics by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after purchasing an additional 17,172 shares during the last quarter. XTX Topco Ltd raised its position in Ovid Therapeutics by 46.2% in the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after purchasing an additional 12,076 shares during the last quarter. FMR LLC raised its position in Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after purchasing an additional 47,723 shares during the last quarter. Rhumbline Advisers raised its position in Ovid Therapeutics by 22.3% in the 4th quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after purchasing an additional 15,355 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Ovid Therapeutics in the 3rd quarter worth approximately $88,000. Institutional investors own 72.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Oppenheimer raised shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price for the company in a report on Wednesday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $3.00 target price (down previously from $4.00) on shares of Ovid Therapeutics in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.20.

Ovid Therapeutics Stock Down 1.4 %

Shares of OVID opened at $0.43 on Friday. Ovid Therapeutics Inc. has a 52 week low of $0.42 and a 52 week high of $3.45. The firm has a market cap of $30.81 million, a P/E ratio of -0.92 and a beta of 0.29. The firm’s 50-day simple moving average is $0.65 and its 200 day simple moving average is $0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.66 and a current ratio of 5.66.

Ovid Therapeutics (NASDAQ:OVID) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Ovid Therapeutics had a negative net margin of 5,142.56% and a negative return on equity of 39.24%. The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.19 million. On average, analysts forecast that Ovid Therapeutics Inc. will post -0.4 earnings per share for the current year.

Ovid Therapeutics Profile

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.