Insider Buying: Minerva Neurosciences Inc (NASDAQ:NERV) Director Buys 1,800 Shares of Stock

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Minerva Neurosciences Inc (NASDAQ:NERV) Director William F. Doyle acquired 1,800 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was acquired at an average price of $10.50 per share, for a total transaction of $18,900.00. Following the completion of the transaction, the director now directly owns 12,011 shares in the company, valued at $126,115.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ NERV traded down $0.17 on Friday, reaching $9.75. 199,907 shares of the company traded hands, compared to its average volume of 188,389. Minerva Neurosciences Inc has a fifty-two week low of $4.80 and a fifty-two week high of $12.95. The company has a market cap of $486.62 million, a P/E ratio of -9.03 and a beta of 1.60.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.06. On average, analysts expect that Minerva Neurosciences Inc will post -1.39 EPS for the current fiscal year.

A number of research firms have issued reports on NERV. BidaskClub lowered shares of Minerva Neurosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of Minerva Neurosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Finally, Citigroup upped their target price on shares of Minerva Neurosciences to $19.00 in a report on Friday, August 3rd.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp increased its position in Minerva Neurosciences by 18.7% during the 2nd quarter. Northern Trust Corp now owns 358,803 shares of the biopharmaceutical company’s stock worth $2,960,000 after purchasing an additional 56,592 shares in the last quarter. Millennium Management LLC increased its position in Minerva Neurosciences by 2.8% during the 2nd quarter. Millennium Management LLC now owns 919,471 shares of the biopharmaceutical company’s stock worth $7,586,000 after purchasing an additional 25,092 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Minerva Neurosciences during the 2nd quarter worth approximately $135,000. Renaissance Technologies LLC increased its position in Minerva Neurosciences by 241.1% during the 2nd quarter. Renaissance Technologies LLC now owns 176,000 shares of the biopharmaceutical company’s stock worth $1,452,000 after purchasing an additional 124,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Minerva Neurosciences by 40.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 391,041 shares of the biopharmaceutical company’s stock worth $3,226,000 after purchasing an additional 112,461 shares in the last quarter. 71.96% of the stock is owned by hedge funds and other institutional investors.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of a portfolio of product candidates for the treatment of central nervous system diseases. The company's lead product candidate is roluperidone, which is in Phase III clinical trial, a compound for the treatment of patients with schizophrenia.

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Insider Buying and Selling by Quarter for Minerva Neurosciences (NASDAQ:NERV)

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