Monimus Capital Management LP Purchases New Holdings in Ovid Therapeutics Inc. (NASDAQ:OVID)

Monimus Capital Management LP purchased a new stake in Ovid Therapeutics Inc. (NASDAQ:OVID) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,266 shares of the company’s stock, valued at approximately $129,000. Monimus Capital Management LP owned about 0.19% of Ovid Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Ovid Therapeutics by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock valued at $1,555,000 after purchasing an additional 14,816 shares during the last quarter. GSA Capital Partners LLP raised its stake in Ovid Therapeutics by 118.0% during the third quarter. GSA Capital Partners LLP now owns 260,509 shares of the company’s stock valued at $307,000 after buying an additional 141,002 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Ovid Therapeutics by 4,128.7% during the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after buying an additional 215,189 shares in the last quarter. Barclays PLC raised its stake in Ovid Therapeutics by 311.2% during the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock valued at $98,000 after buying an additional 63,702 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in 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 buying an additional 15,355 shares in the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $3.00 price objective (down previously from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday. Oppenheimer upgraded Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a research note on Wednesday, January 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ovid Therapeutics in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $3.20.

Ovid Therapeutics Price Performance

Shares of NASDAQ:OVID opened at $0.43 on Friday. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. Ovid Therapeutics Inc. has a 1 year low of $0.42 and a 1 year high of $3.45. The business has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $0.96. The firm has a market cap of $30.81 million, a price-to-earnings ratio of -0.92 and a beta of 0.29.

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