TLS Advisors LLC Sells 90,564 Shares of Ovid Therapeutics Inc. (NASDAQ:OVID)

TLS Advisors LLC reduced its stake in Ovid Therapeutics Inc. (NASDAQ:OVID) by 11.7% during the fourth quarter, HoldingsChannel reports. The fund owned 680,967 shares of the company’s stock after selling 90,564 shares during the period. Ovid Therapeutics comprises approximately 1.5% of TLS Advisors LLC’s holdings, making the stock its 11th largest position. TLS Advisors LLC’s holdings in Ovid Therapeutics were worth $636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of 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 purchasing an additional 17,172 shares in the last quarter. XTX Topco Ltd boosted 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 valued at $45,000 after buying an additional 12,076 shares during the last quarter. FMR LLC increased its holdings in Ovid Therapeutics by 1,907.4% in the 3rd quarter. FMR LLC now owns 50,225 shares of the company’s stock worth $59,000 after buying an additional 47,723 shares in the last quarter. Rhumbline Advisers raised its position in Ovid Therapeutics by 22.3% in the 4th quarter. Rhumbline Advisers now owns 84,078 shares of the company’s stock worth $79,000 after buying an additional 15,355 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Ovid Therapeutics during the 3rd quarter valued at about $88,000. 72.24% of the stock is currently owned by institutional investors.

Ovid Therapeutics Stock Down 7.6 %

Shares of OVID stock opened at $0.35 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 12 month low of $0.35 and a 12 month high of $3.45. The stock has a market cap of $24.88 million, a P/E ratio of -0.74 and a beta of 0.29. The company has a 50 day simple moving average of $0.57 and a two-hundred day simple moving average of $0.91.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($0.13) EPS for the quarter, topping 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 firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.19 million. On average, research analysts expect that Ovid Therapeutics Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

OVID has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $3.00 price target (down from $4.00) on shares of Ovid Therapeutics in a research note on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Ovid Therapeutics in a report on Wednesday, December 4th. BTIG Research decreased their target price on shares of Ovid Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Oppenheimer raised Ovid Therapeutics from a “market perform” rating to an “outperform” rating and set a $4.00 price target on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $3.03.

About Ovid Therapeutics

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.