Minerva Neurosciences, Inc. (NASDAQ:NERV) Short Interest Up 21.1% in March

Minerva Neurosciences, Inc. (NASDAQ:NERV) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 31,600 shares, an increase of 21.1% from the March 15th total of 26,100 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 37,100 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Several research analysts have commented on NERV shares. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 target price on shares of Minerva Neurosciences in a report 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.

Hedge Funds Weigh In On Minerva Neurosciences

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

Minerva Neurosciences Price Performance

Shares of NERV traded up $0.06 during trading hours on Monday, hitting $1.66. 21,119 shares of the stock were exchanged, compared to its average volume of 28,554. Minerva Neurosciences has a fifty-two week low of $1.15 and a fifty-two week high of $3.69. The business has a 50-day moving average of $1.66 and a 200-day moving average of $2.08. The firm has a market capitalization of $11.61 million, a P/E ratio of -3.77 and a beta of -0.09.

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

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.