Minerva Neurosciences, Inc (NASDAQ:NERV) Sees Significant Increase in Short Interest

Minerva Neurosciences, Inc (NASDAQ:NERV) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 58,700 shares, a growth of 50.5% from the September 30th total of 39,000 shares. Based on an average daily volume of 2,880,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.1% of the company’s stock are short sold. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 2,880,000 shares, the days-to-cover ratio is currently 0.0 days.

Minerva Neurosciences Stock Performance

Shares of NASDAQ NERV traded down $0.38 during trading on Monday, reaching $3.82. 132,234 shares of the company traded hands, compared to its average volume of 9,372,177. The firm has a 50 day simple moving average of $2.76 and a 200-day simple moving average of $2.13. Minerva Neurosciences has a 52-week low of $1.15 and a 52-week high of $12.46.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.52. As a group, analysts anticipate that Minerva Neurosciences will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Minerva Neurosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $5.00.

Hedge Funds Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Apella Capital LLC increased its position in Minerva Neurosciences, Inc (NASDAQ:NERV) by 87.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,314 shares of the biopharmaceutical company’s stock after acquiring an additional 18,375 shares during the period. Apella Capital LLC’s holdings in Minerva Neurosciences were worth $83,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.