Ovid Therapeutc (OVID) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Ovid Therapeutc (NASDAQ:OVID) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Ovid Therapeutics Inc. is a biopharmaceutical company. It engaged in developing therapies for patients with rare neurological disorders. The company’s product pipeline consists of OV101, is currently in development for the treatment of symptoms of Angelman syndrome and Fragile X syndrome. It also involved in developing OV935 in collaboration with Takeda Pharmaceutical Company Limited for the treatment of rare epileptic encephalopathies. Ovid Therapeutics Inc. is based in New York, United States. “

Ovid Therapeutc (NASDAQ:OVID) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.09).

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In other news, CEO Jeremy M. Levin acquired 15,334 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $7.15 per share, for a total transaction of $109,638.10. Following the completion of the transaction, the chief executive officer now owns 4,601,529 shares of the company’s stock, valued at $32,900,932.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Ovid Therapeutc in the second quarter valued at approximately $6,739,000. Alps Advisors Inc. bought a new position in shares of Ovid Therapeutc in the second quarter valued at approximately $233,000. Sphera Funds Management LTD. bought a new position in shares of Ovid Therapeutc in the second quarter valued at approximately $3,042,000. Victory Capital Management Inc. bought a new stake in Ovid Therapeutc during the second quarter valued at approximately $1,374,000. Finally, Tekla Capital Management LLC bought a new stake in Ovid Therapeutc during the second quarter valued at approximately $5,229,000. Institutional investors own 32.44% of the company’s stock.

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.

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