Janus Henderson Group PLC Takes $23.73 Million Position in Ovid Therapeutics $OVID

Janus Henderson Group PLC bought a new position in Ovid Therapeutics (NASDAQ:OVID) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,714,000 shares of the company’s stock, valued at approximately $23,732,000. Janus Henderson Group PLC owned about 8.12% of Ovid Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OVID. LPL Financial LLC lifted its holdings in shares of Ovid Therapeutics by 150.0% during the fourth quarter. LPL Financial LLC now owns 30,000 shares of the company’s stock worth $49,000 after purchasing an additional 18,000 shares during the period. Bank of America Corp DE boosted its holdings in shares of Ovid Therapeutics by 49.7% in the 4th quarter. Bank of America Corp DE now owns 56,733 shares of the company’s stock valued at $53,000 after acquiring an additional 18,841 shares during the last quarter. Sovereign Financial Group Inc. increased its stake in shares of Ovid Therapeutics by 200.0% in the first quarter. Sovereign Financial Group Inc. now owns 30,000 shares of the company’s stock worth $67,000 after acquiring an additional 20,000 shares during the period. State of Wyoming acquired a new position in Ovid Therapeutics during the first quarter valued at $49,000. Finally, Geode Capital Management LLC boosted its holdings in Ovid Therapeutics by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 672,004 shares of the company’s stock valued at $1,096,000 after purchasing an additional 23,984 shares during the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HC Wainwright lifted their price objective on Ovid Therapeutics from $2.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Wall Street Zen downgraded Ovid Therapeutics from a “hold” rating to a “sell” rating in a 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 report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Finally, Oppenheimer lifted their target price on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Ovid Therapeutics Price Performance

NASDAQ:OVID opened at $2.33 on Tuesday. The company has a quick ratio of 10.17, a current ratio of 10.17 and a debt-to-equity ratio of 0.06. Ovid Therapeutics has a 52 week low of $0.47 and a 52 week high of $3.11. The stock’s 50-day moving average price is $2.45 and its 200-day moving average price is $2.25. The stock has a market capitalization of $434.87 million, a PE ratio of -8.03 and a beta of 0.21.

Ovid Therapeutics (NASDAQ:OVID) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Ovid Therapeutics had a negative return on equity of 22.51% and a negative net margin of 240.11%. As a group, equities analysts expect that Ovid Therapeutics will post -0.5 EPS for the current fiscal year.

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.