Minerva Neurosciences, Inc (NASDAQ:NERV) Short Interest Update

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

Minerva Neurosciences Trading Down 0.3%

NERV stock traded down $0.02 during midday trading on Monday, hitting $6.27. The company had a trading volume of 67,299 shares, compared to its average volume of 99,578. The stock has a market cap of $271.30 million, a price-to-earnings ratio of -3.39 and a beta of -0.22. Minerva Neurosciences has a 52 week low of $1.15 and a 52 week high of $12.46. The stock’s 50 day moving average price is $4.40 and its 200 day moving average price is $3.43.

Hedge Funds Weigh In On Minerva Neurosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Apella Capital LLC grew its stake in shares of Minerva Neurosciences by 87.8% in the third quarter. Apella Capital LLC now owns 39,314 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 18,375 shares during the last quarter. Federated Hermes Inc. lifted its holdings in 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 buying an additional 4,020,500 shares during the period. Renaissance Technologies LLC grew its position 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 buying an additional 32,700 shares during the last quarter. State Street Corp increased its stake in shares of Minerva Neurosciences by 45.4% during the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock valued at $97,000 after buying an additional 7,500 shares during the period. Finally, Vivo Capital LLC purchased a new position in shares of Minerva Neurosciences during the fourth quarter valued at approximately $17,377,000. 34.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NERV has been the topic of several recent analyst reports. HC Wainwright lowered their target price on shares of Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen downgraded Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research report on Monday, December 29th. 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 data from MarketBeat.com, Minerva Neurosciences currently has an average rating of “Reduce” and a consensus target price 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.