Marinus Pharmaceuticals Inc (MRNS) Shares Sold by Perceptive Advisors LLC
Perceptive Advisors LLC lowered its stake in Marinus Pharmaceuticals Inc (NASDAQ:MRNS) by 37.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 907,732 shares of the biopharmaceutical company’s stock after selling 544,968 shares during the quarter. Perceptive Advisors LLC’s holdings in Marinus Pharmaceuticals were worth $7,407,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Marinus Pharmaceuticals in the 3rd quarter valued at $128,000. FNY Partners Fund LP acquired a new stake in Marinus Pharmaceuticals in the 4th quarter valued at $183,000. Wells Fargo & Company MN acquired a new stake in Marinus Pharmaceuticals in the 4th quarter valued at $225,000. Goldman Sachs Group Inc. acquired a new stake in Marinus Pharmaceuticals in the 4th quarter valued at $305,000. Finally, Virtus Fund Advisers LLC acquired a new stake in Marinus Pharmaceuticals in the 4th quarter valued at $308,000. 63.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Marinus Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv sold 1,272,547 shares of Marinus Pharmaceuticals stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $7.88, for a total transaction of $10,027,670.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Michael Cashman sold 9,566 shares of Marinus Pharmaceuticals stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $6.28, for a total transaction of $60,074.48. Following the sale, the chief executive officer now directly owns 247,903 shares in the company, valued at approximately $1,556,830.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,107,660 shares of company stock worth $16,774,106. 4.60% of the stock is currently owned by corporate insiders.
Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its earnings results on Tuesday, March 6th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07).
MRNS has been the topic of a number of research analyst reports. ValuEngine cut shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. BidaskClub cut shares of Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Laidlaw initiated coverage on shares of Marinus Pharmaceuticals in a research note on Thursday, December 14th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, HC Wainwright initiated coverage on shares of Marinus Pharmaceuticals in a research note on Thursday, February 15th. They issued a “buy” rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.67.
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Marinus Pharmaceuticals Company Profile
Marinus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical-stage product candidate, ganaxolone, is a modulator being developed in various dose forms, including intravenous, oral capsule and oral liquid, intended to provide more treatment options to adult and pediatric patient populations in both acute and chronic care settings.
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