Rubric Capital Management LP Holds 5.3M Ovid Therapeutics Shares

TL;DR

**Rubric Capital Management LP still owns 5.3M Ovid Therapeutics shares, signaling continued institutional interest.**

AI Summary

Rubric Capital Management LP, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, disclosing its ownership of 5,315,969 shares of Ovid Therapeutics Inc. common stock as of December 31, 2023. This filing indicates Rubric Capital Management LP has shared voting and dispositive power over these shares, meaning they can influence decisions and sell the stock. This matters to investors because a significant institutional holder like Rubric Capital Management LP maintaining a large stake can signal confidence in Ovid Therapeutics' future, potentially influencing other investors and the stock price.

Why It Matters

This filing shows a major institutional investor, Rubric Capital Management LP, continues to hold a substantial stake in Ovid Therapeutics, which can be seen as a vote of confidence in the company's prospects.

Risk Assessment

Risk Level: low — This filing is an amendment showing a continued significant holding by an institutional investor, which generally indicates stability rather than new risk.

Analyst Insight

An investor should note that a significant institutional holder like Rubric Capital Management LP is maintaining its position in Ovid Therapeutics, which could be a positive signal, but further research into the company's fundamentals and Rubric's investment thesis would be prudent before making any investment decisions.

Key Numbers

• 5,315,969 — Shares of Common Stock (Represents the total number of Ovid Therapeutics shares Rubric Capital Management LP has shared voting and dispositive power over.)
• 0 — Sole Voting Power (Indicates Rubric Capital Management LP does not have exclusive voting control over any shares.)
• 0 — Sole Dispositive Power (Indicates Rubric Capital Management LP does not have exclusive power to sell any shares.)
• 690469101 — CUSIP Number (Unique identifier for Ovid Therapeutics Inc. Common Stock.)
• 0001104659-24-013559 — Accession Number (Unique identifier for this specific SEC filing.)

Key Players & Entities

• Rubric Capital Management LP (company) — reporting person and institutional investor
• Ovid Therapeutics Inc. (company) — subject company (issuer) of the securities
• 5,315,969 shares (dollar_amount) — number of shares beneficially owned by Rubric Capital Management LP
• December 31, 2023 (date) — date of event requiring the filing
• Delaware (company) — place of organization for Rubric Capital Management LP

Forward-Looking Statements

• Rubric Capital Management LP will maintain a significant stake in Ovid Therapeutics Inc. for the foreseeable future. (Rubric Capital Management LP) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.001 — Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class o

Filing Documents

• tm245464d14_sc13ga.htm (SC 13G/A) — 68KB
• 0001104659-24-013559.txt ( ) — 70KB

(a)

Item 1(a). NAME OF ISSUER: The name of the issuer is Ovid Therapeutics Inc. (the " Issuer ").

(b)

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 441 Ninth Avenue, 14 th Floor, New York, NY, 10001.

(a)

Item 2(a). NAME OF PERSON FILING: This statement is filed by: (i) Rubric Capital Management LP (" Rubric Capital "), the investment adviser to certain investment funds and/or accounts (collectively, the " Rubric Funds ") that hold the shares of Common Stock (as defined in Item 2(d) below) reported herein; and (ii) David Rosen (" Mr. Rosen "), Managing Member of Rubric Capital Management GP LLC, the general partner of Rubric Capital. The foregoing persons are hereinafter sometimes collectively referred to as the " Reporting Persons ." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.

(b)

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 155 East 44th St, Suite 1630, New York, NY 10017.

(c)

Item 2(c). CITIZENSHIP: Rubric Capital is a Delaware limited partnership. Mr. Rosen is a citizen of the United States of America.

(d)

Item 2(d). TITLE OF CLASS OF SECURITIES: Common stock, $0.001 par value per share (the " Common Stock ").

(e)

Item 2(e). CUSIP NUMBER: 690469101 CUSIP No. 690469101 13G/A Page 5 of 7 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act, (b) Bank as defined in Section 3(a)(6) of the Act, (c) Insurance Company as defined in Section 3(a)(19) of the Act, (d) Investment Company registered under Section 8 of the Investment Company Act of 1940, (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F), (g) Parent Holding Company or control person in accordance with Rule 13d-1(b)(1)(ii)(G), (h) Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act, (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ______________________________________________________ Item 4. OWNERSHIP . The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in Row (11) of the cover page for each of the Reporting Persons is based on the 70,680,551 shares of Common Stock outstanding as of October 31, 2023, as reported in the Issuer's Prospectus Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 filed with the Securities and Exchange Commission on November 3, 2023. Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. Not applicable. Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN