Seven Fleet Capital Management LP Sells 136,357 Shares of Minerva Neurosciences, Inc $NERV

Seven Fleet Capital Management LP lowered its position in shares of Minerva Neurosciences, Inc (NASDAQ:NERV) by 12.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,001,373 shares of the biopharmaceutical company’s stock after selling 136,357 shares during the quarter. Minerva Neurosciences accounts for 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 26th biggest position. Seven Fleet Capital Management LP owned approximately 2.10% of Minerva Neurosciences worth $5,558,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of Minerva Neurosciences in the second quarter valued at approximately $419,000. DV Trading LLC acquired a new position in Minerva Neurosciences during the first quarter worth $5,358,000. Bank of America Corp DE boosted its holdings in Minerva Neurosciences by 78,272.5% during the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 39,919 shares during the last quarter. Janus Henderson Group PLC grew its position in Minerva Neurosciences by 47,614.0% in the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company’s stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Minerva Neurosciences in the first quarter valued at $62,000. 34.56% of the stock is owned by institutional investors.

Minerva Neurosciences Trading Up 8.6%

NASDAQ NERV opened at $5.43 on Thursday. Minerva Neurosciences, Inc has a 12 month low of $1.93 and a 12 month high of $12.46. The stock has a 50 day moving average of $4.51 and a 200-day moving average of $5.46. The company has a market cap of $259.28 million, a PE ratio of -0.19 and a beta of -0.10.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. As a group, sell-side analysts predict that Minerva Neurosciences, Inc will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group upgraded Minerva Neurosciences from a “hold” rating to a “mixed” rating and raised their price objective for the company from $7.50 to $10.00 in a report on Friday, August 14th. Finally, Zacks Research downgraded Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.33.

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.