Sphera Funds Management LTD. Invests $3.04 Million in Ovid Therapeutc (NASDAQ:OVID)

Sphera Funds Management LTD. purchased a new stake in Ovid Therapeutc (NASDAQ:OVID) during the second quarter, according to its most recent filing with the SEC. The firm purchased 305,674 shares of the company’s stock, valued at approximately $3,042,000. Sphera Funds Management LTD. owned 1.24% of Ovid Therapeutc at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OVID. Bank of New York Mellon Corp acquired a new stake in Ovid Therapeutc during the 2nd quarter worth approximately $135,000. Schwab Charles Investment Management Inc. acquired a new stake in Ovid Therapeutc during the 2nd quarter worth approximately $153,000. Alps Advisors Inc. acquired a new stake in Ovid Therapeutc during the 2nd quarter worth approximately $233,000. Victory Capital Management Inc. acquired a new stake in Ovid Therapeutc during the 2nd quarter worth approximately $1,374,000. Finally, Jennison Associates LLC acquired a new stake in Ovid Therapeutc during the 2nd quarter worth approximately $6,739,000. Institutional investors and hedge funds own 32.44% of the company’s stock.

In other news, CEO Jeremy M. Levin bought 15,334 shares of the stock in a transaction dated Friday, August 25th. The shares were bought at an average cost of $7.15 per share, with a total value of $109,638.10. Following the completion of the transaction, the chief executive officer now directly owns 4,601,529 shares of the company’s stock, valued at $32,900,932.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Several brokerages have commented on OVID. Cowen and Company began coverage on shares of Ovid Therapeutc in a report on Tuesday, May 30th. They set an “outperform” rating on the stock. Citigroup Inc. began coverage on shares of Ovid Therapeutc in a report on Tuesday, May 30th. They set a “buy” rating and a $21.00 target price on the stock. Zacks Investment Research downgraded shares of Ovid Therapeutc from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. William Blair began coverage on shares of Ovid Therapeutc in a report on Tuesday, May 30th. They set an “outperform” rating on the stock. Finally, JMP Securities began coverage on shares of Ovid Therapeutc in a report on Tuesday, May 30th. They set an “outperform” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.50.

Shares of Ovid Therapeutc (NASDAQ OVID) opened at 9.40 on Friday. The firm’s market capitalization is $231.25 million. Ovid Therapeutc has a 12-month low of $5.28 and a 12-month high of $15.93. The stock has a 50 day moving average of $7.69 and a 200-day moving average of $10.32.

Ovid Therapeutc (NASDAQ:OVID) last issued its earnings results on Thursday, August 10th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.09). On average, equities research analysts predict that Ovid Therapeutc will post ($3.88) EPS for the current fiscal year.

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About Ovid Therapeutc

Ovid Therapeutics Inc (Ovid) is a biopharmaceutical company. The Company is engaged in developing medicines for patients and families living with rare neurological disorders. Its lead drug candidate is OV101. The Company’s second lead drug candidate is OV935. OV101 (gaboxadol) is a delta-selective GABAA receptor agonist.

Institutional Ownership by Quarter for Ovid Therapeutc (NASDAQ:OVID)

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