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

Seven Fleet Capital Management LP trimmed its holdings in Minerva Neurosciences, Inc (NASDAQ:NERV) by 12.0% in the second quarter, according to the company in its most recent Form 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 period. Minerva Neurosciences accounts for about 0.9% of Seven Fleet Capital Management LP’s portfolio, making the stock its 26th biggest holding. Seven Fleet Capital Management LP’s holdings in Minerva Neurosciences were worth $5,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. DV Trading LLC bought a new stake in Minerva Neurosciences in the 1st quarter valued at $5,358,000. Janus Henderson Group PLC lifted its holdings in Minerva Neurosciences by 47,614.0% during the 1st 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 during the last quarter. Spruce Street Capital LP bought a new position in Minerva Neurosciences during the fourth quarter worth $6,655,000. Millennium Management LLC bought a new position in Minerva Neurosciences during the fourth quarter worth $554,000. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Minerva Neurosciences in the fourth quarter valued at $6,655,000. 34.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NERV has been the topic of several research analyst reports. Wall Street Zen raised shares of Minerva Neurosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. Jefferies Financial Group upgraded shares of Minerva Neurosciences from a “hold” rating to a “mixed” rating and upped their price target for the company from $7.50 to $10.00 in a research note on Friday, August 14th. Finally, Zacks Research cut shares of Minerva Neurosciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Minerva Neurosciences has an average rating of “Reduce” and an average target price of $10.33.

Minerva Neurosciences Price Performance

NERV opened at $5.43 on Thursday. The business has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $5.46. The company has a market capitalization of $259.28 million, a PE ratio of -0.19 and a beta of -0.10. Minerva Neurosciences, Inc has a 1 year low of $1.93 and a 1 year high of $12.46.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. Equities analysts anticipate that Minerva Neurosciences, Inc will post -0.5 earnings per share 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.