Short Interest in Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Decreases By 16.0%

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,620,000 shares, a drop of 16.0% from the December 15th total of 4,310,000 shares. Based on an average trading volume of 3,270,000 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. abrdn plc raised 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 valued at $4,679,000 after buying an additional 1,578,329 shares during the last quarter. Suvretta Capital Management LLC grew its stake in Marinus Pharmaceuticals by 32.8% during the third quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock valued at $8,930,000 after acquiring an additional 1,253,901 shares in the last quarter. Franklin Resources Inc. grew its stake in Marinus Pharmaceuticals by 34.9% during the third quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock valued at $8,483,000 after acquiring an additional 1,219,871 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Marinus Pharmaceuticals by 409.4% in the 3rd quarter. GSA Capital Partners LLP now owns 1,016,634 shares of the biopharmaceutical company’s stock valued at $1,789,000 after acquiring an additional 817,050 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Marinus Pharmaceuticals in the 2nd quarter worth $727,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen reissued a “hold” rating on shares of Marinus Pharmaceuticals in a research report on Friday, October 25th. StockNews.com started coverage on Marinus Pharmaceuticals in a report on Monday. They set a “sell” rating for the company. Oppenheimer raised Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Monday, September 23rd. EF Hutton Acquisition Co. I raised Marinus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $0.50 target price (down from $5.00) on shares of Marinus Pharmaceuticals in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.79.

Marinus Pharmaceuticals Stock Down 0.1 %

NASDAQ MRNS opened at $0.54 on Friday. Marinus Pharmaceuticals has a twelve month low of $0.22 and a twelve month high of $10.50. The business has a 50-day moving average price of $0.36 and a 200-day moving average price of $1.00.

Marinus Pharmaceuticals Company Profile

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.