Minerva Neurosciences, Inc (NASDAQ:NERV) Short Interest Update

Minerva Neurosciences, Inc (NASDAQ:NERV) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 559,530 shares, a growth of 27.8% from the February 26th total of 437,962 shares. Based on an average trading volume of 279,173 shares, the short-interest ratio is currently 2.0 days. Currently, 1.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NERV. Janus Henderson Group PLC bought a new position in shares of Minerva Neurosciences in the fourth quarter worth $36,000. State Street Corp raised its stake in shares of Minerva Neurosciences by 45.4% during the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 7,500 shares in the last quarter. Apella Capital LLC lifted its holdings in Minerva Neurosciences by 87.8% in the third quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 18,375 shares during the period. Millennium Management LLC acquired a new stake in Minerva Neurosciences in the fourth quarter worth about $554,000. Finally, Renaissance Technologies LLC grew its position in Minerva Neurosciences by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock valued at $600,000 after buying an additional 32,700 shares in the last quarter. Institutional investors and hedge funds own 34.56% of the company’s stock.

Minerva Neurosciences Stock Up 1.0%

NASDAQ NERV traded up $0.06 on Tuesday, hitting $6.03. The stock had a trading volume of 167,301 shares, compared to its average volume of 213,508. The company’s 50-day moving average is $6.04 and its two-hundred day moving average is $4.45. Minerva Neurosciences has a one year low of $1.15 and a one year high of $12.46. The stock has a market cap of $260.92 million, a price-to-earnings ratio of -0.22 and a beta of -0.32.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.75. On average, sell-side analysts anticipate that Minerva Neurosciences will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on NERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Friday. HC Wainwright restated a “neutral” rating and set a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. Finally, Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $7.00.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.