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

Takeda Pharmaceutical Co. Ltd. bought a new position in shares of Ovid Therapeutics Inc. (NASDAQ:OVID) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,531,996 shares of the company’s stock, valued at approximately $7,012,000. Ovid Therapeutics accounts for 26.4% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 2nd biggest position. Takeda Pharmaceutical Co. Ltd. owned about 10.61% of Ovid Therapeutics at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Ovid Therapeutics by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 37,636 shares of the company’s stock worth $35,000 after buying an additional 17,172 shares during the period. XTX Topco Ltd lifted its position in shares of Ovid Therapeutics by 46.2% during the third quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after acquiring an additional 12,076 shares in the last quarter. FMR LLC boosted its holdings in shares of Ovid Therapeutics by 1,907.4% in the third quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after acquiring an additional 47,723 shares during the period. Rhumbline Advisers grew its position in shares of Ovid Therapeutics by 22.3% in 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 in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Ovid Therapeutics during the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Trading Down 5.4 %

Shares of Ovid Therapeutics stock opened at $0.41 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.66 and a quick ratio of 5.66. Ovid Therapeutics Inc. has a 1 year low of $0.40 and a 1 year high of $3.45. The firm has a market cap of $28.93 million, a PE ratio of -0.87 and a beta of 0.29. The company has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $0.92.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on OVID. Wedbush restated an “outperform” rating and issued a $3.00 target price (down previously from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th. Oppenheimer upgraded shares of Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price objective for the company in a research report on Wednesday, January 29th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. Finally, BTIG Research cut their price target on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Monday. One investment 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 company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.