Minerva Neurosciences, Inc. (NASDAQ:NERV) Short Interest Update

Minerva Neurosciences, Inc. (NASDAQ:NERV) was the recipient 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 volume of 43,600 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.1% of the company’s stock are sold short.

Institutional Trading of Minerva Neurosciences

An institutional investor recently raised its position in Minerva Neurosciences stock. Northern Trust Corp increased its stake in Minerva Neurosciences, Inc. (NASDAQ:NERV) by 60.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 34.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright restated a “neutral” rating and set a $5.00 price objective on shares of Minerva Neurosciences in a research note on Wednesday, February 26th. StockNews.com began coverage on Minerva Neurosciences in a report on Tuesday. They set a “sell” rating on the stock.

Minerva Neurosciences Stock Up 5.8 %

NASDAQ:NERV traded up $0.09 during trading hours on Tuesday, reaching $1.65. 2,301 shares of the stock were exchanged, compared to its average volume of 29,028. The stock has a market capitalization of $11.54 million, a P/E ratio of -3.75 and a beta of 0.10. Minerva Neurosciences has a 52 week low of $1.42 and a 52 week high of $3.69. The firm has a 50 day simple moving average of $2.00 and a 200-day simple moving average of $2.29.

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

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.