Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Sees Significant Growth in Short Interest

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 5,660,000 shares, a growth of 62.2% from the October 15th total of 3,490,000 shares. Based on an average daily volume of 2,360,000 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of MRNS. Avoro Capital Advisors LLC grew its position in shares of Marinus Pharmaceuticals by 31.4% during the first quarter. Avoro Capital Advisors LLC now owns 4,140,607 shares of the biopharmaceutical company’s stock worth $37,431,000 after acquiring an additional 990,607 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Marinus Pharmaceuticals by 5.0% during the first quarter. Vanguard Group Inc. now owns 2,805,920 shares of the biopharmaceutical company’s stock worth $25,366,000 after acquiring an additional 132,689 shares during the last quarter. abrdn plc grew its position in shares of Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after acquiring an additional 1,578,329 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Marinus Pharmaceuticals by 409.4% during the third quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock worth $1,789,000 after acquiring an additional 817,050 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Marinus Pharmaceuticals during the second quarter worth about $813,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Marinus Pharmaceuticals Stock Performance

Marinus Pharmaceuticals stock traded down $0.04 during mid-day trading on Wednesday, reaching $0.30. The company’s stock had a trading volume of 1,735,482 shares, compared to its average volume of 1,585,814. The business has a 50 day moving average price of $1.28 and a 200-day moving average price of $1.34. Marinus Pharmaceuticals has a twelve month low of $0.26 and a twelve month high of $11.26.

Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.02. The firm had revenue of $8.54 million during the quarter, compared to the consensus estimate of $8.95 million. Marinus Pharmaceuticals had a negative net margin of 446.48% and a negative return on equity of 7,831.35%. Research analysts expect that Marinus Pharmaceuticals will post -1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Marinus Pharmaceuticals in a research note on Thursday, October 24th. LADENBURG THALM/SH SH lowered shares of Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 14th. EF Hutton Acquisition Co. I upgraded shares of Marinus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 30th. Cantor Fitzgerald dropped their price objective on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com initiated coverage on shares of Marinus Pharmaceuticals in a research note on Sunday. They set a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.07.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.