Spruce Street Capital LP Takes Position in Minerva Neurosciences, Inc $NERV

Spruce Street Capital LP purchased a new stake in Minerva Neurosciences, Inc (NASDAQ:NERV) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,655,500 shares of the biopharmaceutical company’s stock, valued at approximately $6,655,000. Minerva Neurosciences accounts for about 2.2% of Spruce Street Capital LP’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Minerva Neurosciences by 45.4% in the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after purchasing an additional 7,500 shares during the last quarter. Apella Capital LLC increased its stake in shares of Minerva Neurosciences by 7.8% in the 4th quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 3,066 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Minerva Neurosciences by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 32,700 shares during the last quarter. Vivo Capital LLC bought a new position in shares of Minerva Neurosciences in the 4th quarter valued at $17,377,000. Finally, Federated Hermes Inc. increased its stake in shares of Minerva Neurosciences by 297.5% in the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock valued at $21,595,000 after purchasing an additional 4,020,500 shares during the last quarter. Institutional investors own 34.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NERV shares. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Friday, March 27th. Citizens Jmp started coverage on Minerva Neurosciences in a research report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price objective on the stock. Wall Street Zen lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright restated a “neutral” rating and set a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

Minerva Neurosciences Stock Down 2.7%

Shares of NERV stock opened at $4.39 on Tuesday. The firm has a market capitalization of $204.53 million, a P/E ratio of -0.15 and a beta of -0.18. Minerva Neurosciences, Inc has a twelve month low of $1.57 and a twelve month high of $12.46. The stock’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $5.32.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). As a group, equities research analysts expect that Minerva Neurosciences, Inc will post -0.2 EPS for the current fiscal year.

Minerva Neurosciences Company 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.