Short Interest in Minerva Neurosciences, Inc (NASDAQ:NERV) Increases By 27.8%

Minerva Neurosciences, Inc (NASDAQ:NERV) saw a large increase in short interest in the month of 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. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 279,173 shares, the short-interest ratio is presently 2.0 days.

Minerva Neurosciences Price Performance

NASDAQ:NERV opened at $6.03 on Wednesday. Minerva Neurosciences has a one year low of $1.15 and a one year high of $12.46. The company has a market cap of $260.94 million, a PE ratio of -0.22 and a beta of -0.32. The firm has a 50-day moving average of $6.08 and a 200-day moving average of $4.48.

Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.75. On average, equities research analysts expect that Minerva Neurosciences will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NERV. HC Wainwright reiterated a “neutral” rating and issued a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Friday. 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 MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $7.00.

Institutional Investors Weigh In On Minerva Neurosciences

Several institutional investors have recently bought and sold shares of the stock. Apella Capital LLC raised its position in Minerva Neurosciences by 87.8% in the 3rd 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. Federated Hermes Inc. grew 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 worth $21,595,000 after acquiring an additional 4,020,500 shares in the last quarter. Renaissance Technologies LLC grew 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 worth $600,000 after acquiring an additional 32,700 shares in the last quarter. State Street Corp raised its holdings in shares of Minerva Neurosciences by 45.4% in the fourth 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. Finally, Vivo Capital LLC bought a new position in shares of Minerva Neurosciences during the fourth quarter valued at about $17,377,000. Institutional investors own 34.56% of the company’s stock.

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.