Rhumbline Advisers Invests $245,000 in Marinus Pharmaceuticals Inc (MRNS)
Rhumbline Advisers bought a new stake in Marinus Pharmaceuticals Inc (NASDAQ:MRNS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,698 shares of the biopharmaceutical company’s stock, valued at approximately $245,000. Rhumbline Advisers owned 0.09% of Marinus Pharmaceuticals at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in Marinus Pharmaceuticals in the first quarter worth approximately $373,000. Alps Advisors Inc. acquired a new position in Marinus Pharmaceuticals in the second quarter worth approximately $416,000. Barclays PLC acquired a new position in Marinus Pharmaceuticals in the first quarter worth approximately $232,000. Finally, Jennison Associates LLC increased its holdings in Marinus Pharmaceuticals by 0.8% in the second quarter. Jennison Associates LLC now owns 2,757,356 shares of the biopharmaceutical company’s stock worth $19,495,000 after buying an additional 21,733 shares during the last quarter. Institutional investors own 63.64% of the company’s stock.
Shares of MRNS stock opened at $8.99 on Tuesday. Marinus Pharmaceuticals Inc has a 12 month low of $3.31 and a 12 month high of $9.87. The company has a market cap of $355.81 million, a price-to-earnings ratio of -11.05 and a beta of 2.60.
A number of research firms recently commented on MRNS. BidaskClub downgraded Marinus Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, June 22nd. LADENBURG THALM/SH SH began coverage on Marinus Pharmaceuticals in a report on Wednesday, June 6th. They issued a “buy” rating and a $20.00 price objective on the stock. ValuEngine upgraded Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, Cantor Fitzgerald set a $19.00 price objective on Marinus Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $19.67.
Marinus Pharmaceuticals Profile
Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three different dose forms: intravenous (IV), capsule, and liquid.
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