Minerva Neurosciences (NASDAQ:NERV) Shares Cross Below Fifty Day Moving Average – Should You Sell?

Minerva Neurosciences, Inc (NASDAQ:NERV) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.20 and traded as low as $5.13. Minerva Neurosciences shares last traded at $5.18, with a volume of 157,209 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NERV. HC Wainwright reaffirmed a “neutral” rating and set a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Friday, March 27th. Finally, Wall Street Zen raised 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 stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $7.00.

Minerva Neurosciences Price Performance

The firm has a market capitalization of $224.14 million, a PE ratio of -0.19 and a beta of -0.19. The stock has a 50-day moving average price of $6.20 and a 200-day moving average price of $4.59.

Institutional Trading of Minerva Neurosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in Minerva Neurosciences in the fourth quarter valued at about $36,000. Apella Capital LLC raised its position in shares of Minerva Neurosciences by 87.8% during the 3rd quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company’s stock valued at $83,000 after acquiring an additional 18,375 shares in the last quarter. State Street Corp raised its position 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 acquiring an additional 7,500 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Minerva Neurosciences during the 4th quarter valued at approximately $554,000. Finally, Renaissance Technologies LLC raised its position in shares of Minerva Neurosciences by 28.1% during the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 32,700 shares in the last quarter. 34.56% of the stock is owned by institutional investors.

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.