Takeda Pharmaceutical Co. Ltd. Takes Position in Ovid Therapeutics Inc. (NASDAQ:OVID)

Takeda Pharmaceutical Co. Ltd. bought a new position in Ovid Therapeutics Inc. (NASDAQ:OVID) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 7,531,996 shares of the company’s stock, valued at approximately $7,012,000. Ovid Therapeutics accounts for approximately 26.4% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 2nd biggest holding. Takeda Pharmaceutical Co. Ltd. owned 0.11% of Ovid Therapeutics as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in OVID. SG Americas Securities LLC boosted its position in Ovid Therapeutics by 83.9% during the fourth quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock valued at $35,000 after buying an additional 17,172 shares during the period. XTX Topco Ltd boosted its holdings in Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock valued at $45,000 after acquiring an additional 12,076 shares during the period. FMR LLC boosted its holdings in Ovid Therapeutics by 1,907.4% during the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock valued at $59,000 after acquiring an additional 47,723 shares during the period. Verition Fund Management LLC bought a new position in Ovid Therapeutics during the 3rd quarter worth approximately $88,000. Finally, Rhumbline Advisers boosted its stake in shares of Ovid Therapeutics by 22.3% during the fourth quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock valued at $79,000 after purchasing an additional 15,355 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Trading Down 5.4 %

OVID opened at $0.41 on Thursday. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics Inc. has a 52 week low of $0.40 and a 52 week high of $3.45. The stock has a market cap of $28.93 million, a PE ratio of -0.87 and a beta of 0.29. The business has a 50 day moving average of $0.59 and a 200-day moving average of $0.92.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Ovid Therapeutics in a research report on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 target price on the stock in a research note on Wednesday, January 29th. Finally, BTIG Research dropped their price target on Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $3.03.

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.