Seven Fleet Capital Management LP Purchases Shares of 1,137,730 Minerva Neurosciences, Inc $NERV

Seven Fleet Capital Management LP acquired a new stake in Minerva Neurosciences, Inc (NASDAQ:NERV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,137,730 shares of the biopharmaceutical company’s stock, valued at approximately $6,855,000. Minerva Neurosciences accounts for approximately 2.2% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 12th largest position.

Other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC acquired a new stake in shares of Minerva Neurosciences during the fourth quarter worth about $36,000. OMERS ADMINISTRATION Corp acquired a new position in Minerva Neurosciences in the 1st quarter worth approximately $62,000. Cannon Global Investment Management LLC purchased a new position in Minerva Neurosciences during the 1st quarter worth approximately $107,000. State Street Corp raised its position in Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 7,500 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Minerva Neurosciences by 78,272.5% during the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 39,919 shares during the period. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NERV has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Citizens Jmp began coverage on Minerva Neurosciences in a research report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Minerva Neurosciences presently has a consensus rating of “Hold” and an average target price of $10.50.

Minerva Neurosciences Stock Performance

NERV opened at $3.98 on Friday. Minerva Neurosciences, Inc has a fifty-two week low of $1.76 and a fifty-two week high of $12.46. The company has a fifty day moving average of $4.60 and a two-hundred day moving average of $5.42. The stock has a market capitalization of $185.43 million, a price-to-earnings ratio of -0.14 and a beta of -0.16.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). On average, equities research analysts forecast that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current year.

Minerva Neurosciences 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.