Minerva Neurosciences, Inc. (NASDAQ:NERV – Get Free Report) 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 – Get Free Report) 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
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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 – Free Report) 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.
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