Jupiter Topco LLC purchased a new stake in Ovid Therapeutics (NASDAQ:OVID – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,741,234 shares of the company’s stock, valued at approximately $55,898,000. Jupiter Topco LLC owned about 11.11% of Ovid Therapeutics at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. ADAR1 Capital Management LLC purchased a new position in shares of Ovid Therapeutics during the 2nd quarter worth approximately $19,953,000. Parkman Healthcare Partners LLC purchased a new stake in Ovid Therapeutics in the 2nd quarter valued at approximately $532,000. Legal & General Group Plc purchased a new stake in Ovid Therapeutics in the 2nd quarter valued at approximately $40,000. The Manufacturers Life Insurance Company acquired a new stake in Ovid Therapeutics during the 2nd quarter valued at $110,000. Finally, Cibc World Market Inc. acquired a new stake in Ovid Therapeutics during the 2nd quarter valued at $589,000. 72.24% of the stock is currently owned by institutional investors and hedge funds.
Ovid Therapeutics Trading Up 1.7%
Shares of OVID opened at $2.93 on Friday. The stock has a fifty day moving average of $2.57 and a two-hundred day moving average of $2.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.39 and a current ratio of 12.39. The company has a market capitalization of $572.23 million, a PE ratio of -9.45 and a beta of 0.21. Ovid Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $3.11.
Analysts Set New Price Targets
OVID has been the subject of a number of analyst reports. B. Riley Financial reissued a “buy” rating on shares of Ovid Therapeutics in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ovid Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Roth Capital reissued a “buy” rating and issued a $7.00 target price on shares of Ovid Therapeutics in a research note on Thursday, May 14th. Finally, Oppenheimer upped 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, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.71.
Get Our Latest Stock Report on Ovid Therapeutics
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.
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