Short Interest in Minerva Neurosciences, Inc. (NASDAQ:NERV) Expands By 101.0%

Minerva Neurosciences, Inc. (NASDAQ:NERV) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 42,000 shares, a growth of 101.0% from the January 31st total of 20,900 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NERV shares. HC Wainwright restated a “neutral” rating and set a $5.00 price target on shares of Minerva Neurosciences in a research report on Wednesday. StockNews.com began coverage on Minerva Neurosciences in a research report on Saturday, February 22nd. They set a “sell” rating on the stock.

Minerva Neurosciences Price Performance

Shares of NERV traded down $0.03 during trading hours on Friday, hitting $1.67. The stock had a trading volume of 18,703 shares, compared to its average volume of 47,113. The stock has a fifty day moving average price of $2.14 and a 200 day moving average price of $2.38. Minerva Neurosciences has a 12 month low of $1.64 and a 12 month high of $3.69. The firm has a market capitalization of $11.68 million, a PE ratio of -3.80 and a beta of 0.12.

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

Institutional Trading of Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Northern Trust Corp raised its stake in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,878 shares of the biopharmaceutical company’s stock after purchasing an additional 13,829 shares during the period. Northern Trust Corp owned 0.53% of Minerva Neurosciences worth $82,000 as of its most recent SEC filing. Institutional investors and hedge funds own 34.56% of the company’s stock.

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.