Minerva Neurosciences, Inc (NASDAQ:NERV) Short Interest Up 27.8% in March

Minerva Neurosciences, Inc (NASDAQ:NERV) was the target 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. Based on an average trading volume of 279,173 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the company’s stock are short sold.

Minerva Neurosciences Stock Performance

Minerva Neurosciences stock opened at $6.18 on Monday. Minerva Neurosciences has a fifty-two week low of $1.15 and a fifty-two week high of $12.46. The firm’s 50-day simple moving average is $6.01 and its 200 day simple moving average is $4.42. The stock has a market cap of $267.41 million, a PE ratio of -0.23 and a beta of -0.32.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.64 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.75. As a group, analysts predict that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Apella Capital LLC grew its stake in 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 period. State Street Corp raised its stake 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 worth $97,000 after purchasing an additional 7,500 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Minerva Neurosciences in the 4th quarter worth about $36,000. Renaissance Technologies LLC grew its position in 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 buying an additional 32,700 shares during the period. Finally, Millennium Management LLC purchased a new stake in Minerva Neurosciences during the fourth quarter worth about $554,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Analysts Set New Price Targets

NERV has been the subject of a number of recent research reports. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Friday. Finally, HC Wainwright reiterated a “neutral” rating and set a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Minerva Neurosciences presently has an average rating of “Reduce” and an average target price of $7.00.

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.