Minerva Neurosciences (NASDAQ:NERV) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Minerva Neurosciences, Inc. (NASDAQ:NERV)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.13 and traded as low as $1.24. Minerva Neurosciences shares last traded at $1.35, with a volume of 13,337 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NERV. HC Wainwright reissued a “neutral” rating and issued a $5.00 target price on shares of Minerva Neurosciences in a research report on Wednesday, February 26th. StockNews.com assumed coverage on Minerva Neurosciences in a research report on Friday. They issued a “sell” rating on the stock.

Minerva Neurosciences Price Performance

The firm has a market cap of $10.14 million, a PE ratio of -3.30 and a beta of -0.09. The business’s 50 day moving average price is $1.72 and its 200 day moving average price is $2.12.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.49. As a group, analysts predict that Minerva Neurosciences, Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Minerva Neurosciences

A number of institutional investors have recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of Minerva Neurosciences by 60.0% during the 4th quarter. Northern Trust Corp now owns 36,878 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 13,829 shares during the period. Citadel Advisors LLC raised its position in Minerva Neurosciences by 49.5% in the fourth quarter. Citadel Advisors LLC now owns 25,764 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 8,525 shares during the period. Finally, Apella Capital LLC acquired a new position in shares of Minerva Neurosciences in the 1st quarter valued at $35,000. 34.56% of the stock is owned by hedge funds and other institutional investors.

About Minerva Neurosciences

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.