Minerva Neurosciences, Inc (NASDAQ:NERV) Sees Large Growth in Short Interest

Minerva Neurosciences, Inc (NASDAQ:NERV) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 402,585 shares, a growth of 25.3% from the January 15th total of 321,379 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 66,424 shares, the days-to-cover ratio is presently 6.1 days. Based on an average daily trading volume, of 66,424 shares, the days-to-cover ratio is presently 6.1 days. Currently, 1.0% of the shares of the company are short sold.

Minerva Neurosciences Stock Up 2.9%

NASDAQ:NERV opened at $6.45 on Wednesday. The business’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $3.49. Minerva Neurosciences has a 52 week low of $1.15 and a 52 week high of $12.46. The stock has a market cap of $279.09 million, a PE ratio of -3.49 and a beta of -0.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apella Capital LLC raised its position in shares of Minerva Neurosciences by 87.8% during 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 during the last quarter. State Street Corp boosted its holdings in shares of Minerva Neurosciences by 45.4% during 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. Renaissance Technologies LLC grew 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 valued at $600,000 after purchasing an additional 32,700 shares in the last quarter. Spruce Street Capital LP bought a new stake in shares of Minerva Neurosciences in the fourth quarter worth about $6,655,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Minerva Neurosciences in the fourth quarter worth about $6,655,000. 34.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on NERV. HC Wainwright reduced their price objective on Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, December 29th. Finally, Wall Street Zen cut Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Minerva Neurosciences presently has a consensus rating of “Reduce” and an average price target of $4.00.

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.