Minerva Neurosciences, Inc. (NASDAQ:NERV) Sees Large Growth in Short Interest

by · The Markets Daily

Minerva Neurosciences, Inc. (NASDAQ:NERV – Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 31,600 shares, a growth of 21.1% from the March 15th total of 26,100 shares. Based on an average trading volume of 37,100 shares, the short-interest ratio is currently 0.9 days. Currently, 0.6% of the shares of the stock are short sold.

Minerva Neurosciences Stock Performance

Shares of NERV traded up $0.08 during midday trading on Friday, hitting $1.60. 2,104 shares of the stock were exchanged, compared to its average volume of 28,584. The firm has a market cap of $11.19 million, a P/E ratio of -3.64 and a beta of -0.09. Minerva Neurosciences has a 52-week low of $1.15 and a 52-week high of $3.69. The stock has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $2.09.

Minerva Neurosciences (NASDAQ:NERV – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.49. As a group, equities research analysts forecast that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NERV. HC Wainwright reaffirmed a “neutral” rating and issued a $5.00 price target on shares of Minerva Neurosciences in a research note on Wednesday, February 26th. StockNews.com started coverage on Minerva Neurosciences in a research note on Saturday. They issued a “sell” rating on the stock.

Get Our Latest Research Report on NERV

Institutional Trading of Minerva Neurosciences

A number of large investors have recently modified their holdings of NERV. Northern Trust Corp increased its holdings in Minerva Neurosciences by 60.0% during the 4th quarter. Northern Trust Corp now owns 36,878 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 13,829 shares during the period. Citadel Advisors LLC grew its position in shares of Minerva Neurosciences by 49.5% during the fourth quarter. Citadel Advisors LLC now owns 25,764 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 8,525 shares in the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Minerva Neurosciences during the first quarter worth about $35,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

(Get Free Report)

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.

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