Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) shares dropped 7.4% during trading on Tuesday . The stock traded as low as $7.15 and last traded at $7.26. Approximately 1,098,700 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 1,207,290 shares. The stock had previously closed at $7.84.
MRNS has been the subject of several analyst reports. ValuEngine upgraded Marinus Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. JMP Securities restated an “outperform” rating and issued a $11.00 target price (up previously from $5.00) on shares of Marinus Pharmaceuticals in a research note on Tuesday, September 12th.
Marinus Pharmaceuticals (NASDAQ:MRNS) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02.
Several large investors have recently added to or reduced their stakes in the business. KCG Holdings Inc. raised its holdings in shares of Marinus Pharmaceuticals by 29.5% in the 1st quarter. KCG Holdings Inc. now owns 64,539 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 14,692 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Marinus Pharmaceuticals in the 3rd quarter valued at about $128,000. Citadel Advisors LLC raised its holdings in shares of Marinus Pharmaceuticals by 327.8% in the 3rd quarter. Citadel Advisors LLC now owns 51,383 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 39,371 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of Marinus Pharmaceuticals in the 3rd quarter valued at about $554,000. Finally, Jennison Associates LLC raised its holdings in shares of Marinus Pharmaceuticals by 108.1% in the 2nd quarter. Jennison Associates LLC now owns 811,665 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 421,600 shares in the last quarter. 20.56% of the stock is currently owned by hedge funds and other institutional investors.
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Marinus Pharmaceuticals Company Profile
Marinus Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical-stage product candidate, ganaxolone, is a modulator being developed in various dose forms, including intravenous, oral capsule and oral liquid, intended to provide more treatment options to adult and pediatric patient populations in both acute and chronic care settings.
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