GSA Capital Partners LLP Lowers Holdings in Ovid Therapeutics $OVID

GSA Capital Partners LLP trimmed its position in shares of Ovid Therapeutics (NASDAQ:OVID) by 64.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,993 shares of the company’s stock after selling 476,197 shares during the quarter. GSA Capital Partners LLP owned 0.37% of Ovid Therapeutics worth $346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Ovid Therapeutics by 112.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 924,576 shares of the company’s stock worth $1,202,000 after purchasing an additional 488,956 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Ovid Therapeutics in the 2nd quarter valued at approximately $53,000. Jane Street Group LLC purchased a new stake in shares of Ovid Therapeutics in the second quarter valued at approximately $47,000. Bank of America Corp DE grew its holdings in 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 acquiring an additional 18,841 shares during the period. Finally, Velan Capital Investment Management LP raised its position in Ovid Therapeutics by 64.9% in the second quarter. Velan Capital Investment Management LP now owns 160,000 shares of the company’s stock worth $53,000 after acquiring an additional 63,000 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price target on shares of Ovid Therapeutics in a research note on Monday, December 22nd. Lifesci Capital assumed coverage on shares of Ovid Therapeutics in a report on Monday, December 22nd. They set an “outperform” rating and a $4.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Ovid Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Leerink Partners started coverage on Ovid Therapeutics in a report on Monday, November 17th. They issued an “outperform” rating and a $5.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $3.88.

Ovid Therapeutics Trading Up 1.9%

Shares of OVID opened at $1.65 on Friday. 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 firm has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $1.46. Ovid Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.01. The stock has a market cap of $117.50 million, a price-to-earnings ratio of -3.30 and a beta of 0.25.

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.