Minerva Neurosciences, Inc. (NASDAQ:NERV) Short Interest Up 35.5% in February

Minerva Neurosciences, Inc. (NASDAQ:NERV) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 56,900 shares, an increase of 35.5% from the February 13th total of 42,000 shares. Based on an average daily trading volume, of 43,600 shares, the short-interest ratio is currently 1.3 days. Currently, 1.1% of the shares of the stock are sold short.

Minerva Neurosciences Price Performance

Shares of NERV stock traded down $0.08 during trading hours on Friday, reaching $1.54. The company had a trading volume of 11,222 shares, compared to its average volume of 29,152. Minerva Neurosciences has a 1-year low of $1.42 and a 1-year high of $3.69. The firm has a market cap of $10.77 million, a price-to-earnings ratio of -3.50 and a beta of 0.10. The company has a 50 day moving average of $2.01 and a 200 day moving average of $2.30.

Minerva Neurosciences (NASDAQ:NERV) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.49. As a group, sell-side analysts forecast that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NERV shares. HC Wainwright reiterated a “neutral” rating and set a $5.00 target price on shares of Minerva Neurosciences in a research report on Wednesday, February 26th. StockNews.com initiated coverage on Minerva Neurosciences in a report on Monday, March 10th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Minerva Neurosciences stock. Citadel Advisors LLC raised its holdings in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,764 shares of the biopharmaceutical company’s stock after acquiring an additional 8,525 shares during the quarter. Citadel Advisors LLC owned approximately 0.37% of Minerva Neurosciences worth $57,000 at the end of the most recent reporting period. 34.56% of the stock is currently owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

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.