Jupiter Topco LLC Makes New Investment in Ovid Therapeutics $OVID

by · The Markets Daily

Jupiter Topco LLC acquired a new position in Ovid Therapeutics (NASDAQ:OVID – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,741,234 shares of the company’s stock, valued at approximately $55,898,000. Jupiter Topco LLC owned approximately 0.11% of Ovid Therapeutics as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Ovid Therapeutics during the 2nd quarter worth $29,115,000. Janus Henderson Group PLC acquired a new stake in Ovid Therapeutics in the 1st quarter valued at $23,732,000. RA Capital Management L.P. purchased a new position in Ovid Therapeutics in the fourth quarter valued at about $17,464,000. ADAR1 Capital Management LLC purchased a new position in Ovid Therapeutics in the second quarter valued at about $19,953,000. Finally, Affinity Asset Advisors LLC lifted its stake in shares of Ovid Therapeutics by 169.8% during the fourth quarter. Affinity Asset Advisors LLC now owns 7,150,000 shares of the company’s stock worth $11,654,000 after purchasing an additional 4,500,000 shares in the last quarter. Institutional investors and hedge funds own 72.24% of the company’s stock.

Ovid Therapeutics Stock Performance

Shares of OVID stock opened at $2.93 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.39 and a quick ratio of 12.39. The company’s fifty day moving average price is $2.57 and its two-hundred day moving average price is $2.39. The firm has a market capitalization of $572.23 million, a P/E ratio of -9.45 and a beta of 0.21. Ovid Therapeutics has a 12 month low of $1.12 and a 12 month high of $3.11.

Ovid Therapeutics (NASDAQ:OVID – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. Ovid Therapeutics had a negative return on equity of 23.64% and a negative net margin of 240.11%.The company had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.02 million. On average, research analysts anticipate that Ovid Therapeutics will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OVID has been the subject of several analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of Ovid Therapeutics in a research report on Tuesday, July 21st. Roth Capital reiterated a “buy” rating and set a $7.00 target price on shares of Ovid Therapeutics in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ovid Therapeutics in a research report on Friday, July 17th. Wall Street Zen upgraded Ovid Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Oppenheimer increased their price objective on shares of Ovid Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ovid Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.71.

Check Out Our Latest Stock Report on Ovid Therapeutics

Ovid Therapeutics Profile

(Free Report)

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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