Short Interest in Minerva Neurosciences, Inc (NASDAQ:NERV) Rises By 82.5%

Minerva Neurosciences, Inc (NASDAQ:NERV) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 1,020,925 shares, an increase of 82.5% from the March 15th total of 559,530 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily volume of 538,544 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. HC Wainwright reissued a “neutral” rating and set a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. Finally, Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $7.00.

Hedge Funds Weigh In On Minerva Neurosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Minerva Neurosciences by 297.5% during the fourth quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock valued at $21,595,000 after acquiring an additional 4,020,500 shares during the last quarter. Vivo Capital LLC bought a new position in shares of Minerva Neurosciences during the fourth quarter valued at about $17,377,000. Logos Global Management LP bought a new position in shares of Minerva Neurosciences during the fourth quarter valued at about $13,310,000. Adage Capital Partners GP L.L.C. bought a new position in Minerva Neurosciences in the fourth quarter worth about $11,409,000. Finally, Farallon Capital Management LLC bought a new position in Minerva Neurosciences in the fourth quarter worth about $9,507,000. 34.56% of the stock is owned by institutional investors.

Minerva Neurosciences Stock Up 3.0%

Shares of NASDAQ:NERV traded up $0.17 during midday trading on Tuesday, hitting $5.87. 137,830 shares of the stock traded hands, compared to its average volume of 401,187. The stock has a market capitalization of $257.34 million, a PE ratio of -0.22 and a beta of -0.19. The business’s 50 day moving average is $6.33 and its two-hundred day moving average is $4.71. Minerva Neurosciences has a one year low of $1.30 and a one year high of $12.46.

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.