Short Interest in Minerva Neurosciences, Inc (NASDAQ:NERV) Grows By 27.8%

Minerva Neurosciences, Inc (NASDAQ:NERV) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 559,530 shares, an increase of 27.8% from the February 26th total of 437,962 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 279,173 shares, the days-to-cover ratio is presently 2.0 days.

Minerva Neurosciences Price Performance

Shares of NERV opened at $6.18 on Monday. Minerva Neurosciences has a one year low of $1.15 and a one year high of $12.46. The company has a market cap of $267.41 million, a PE ratio of -0.23 and a beta of -0.32. The stock has a 50-day moving average of $6.01 and a 200-day moving average of $4.42.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.75. Analysts expect that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Institutional Trading of Minerva Neurosciences

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new stake in Minerva Neurosciences during the 4th quarter valued at $36,000. Apella Capital LLC lifted its stake in shares of Minerva Neurosciences by 87.8% in the third quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company’s stock valued at $83,000 after buying an additional 18,375 shares in the last quarter. State Street Corp grew its holdings in shares of Minerva Neurosciences by 45.4% during the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 7,500 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Minerva Neurosciences during the fourth quarter valued at about $554,000. Finally, Renaissance Technologies LLC increased its position in shares of Minerva Neurosciences by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 32,700 shares in the last quarter. Institutional investors and hedge funds own 34.56% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NERV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $7.00.

About Minerva Neurosciences

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.