Bank of New York Mellon Corp raised its stake in Minerva Neurosciences, Inc (NASDAQ:NERV) by 33.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,152 shares of the biopharmaceutical company’s stock after buying an additional 30,223 shares during the period. Bank of New York Mellon Corp’s holdings in Minerva Neurosciences were worth $921,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Minerva Neurosciences by 35.9% in the second quarter. Rhumbline Advisers now owns 27,082 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 7,150 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in Minerva Neurosciences in the second quarter valued at about $159,000. Nationwide Fund Advisors increased its holdings in Minerva Neurosciences by 861.1% in the third quarter. Nationwide Fund Advisors now owns 124,990 shares of the biopharmaceutical company’s stock valued at $950,000 after buying an additional 111,985 shares in the last quarter. Vanguard Group Inc. increased its holdings in Minerva Neurosciences by 14.4% in the second quarter. Vanguard Group Inc. now owns 1,074,239 shares of the biopharmaceutical company’s stock valued at $9,507,000 after buying an additional 134,942 shares in the last quarter. Finally, EcoR1 Capital LLC purchased a new position in Minerva Neurosciences in the second quarter valued at about $1,981,000. 73.68% of the stock is owned by institutional investors.
Several analysts have recently commented on NERV shares. Zacks Investment Research lowered shares of Minerva Neurosciences from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine lowered shares of Minerva Neurosciences from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Minerva Neurosciences presently has a consensus rating of “Hold” and a consensus target price of $13.94.
In other news, CFO Geoff Race sold 5,829 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $5.79, for a total value of $33,749.91. Following the sale, the chief financial officer now directly owns 197,698 shares in the company, valued at $1,144,671.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,590 shares of company stock worth $73,073 over the last quarter. Company insiders own 21.60% of the company’s stock.
Shares of Minerva Neurosciences, Inc (NERV) opened at $6.25 on Friday. The company has a market cap of $241.88, a P/E ratio of -5.63 and a beta of 1.53. Minerva Neurosciences, Inc has a 1 year low of $4.80 and a 1 year high of $11.90.
Minerva Neurosciences (NASDAQ:NERV) last released its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter. During the same quarter last year, the business posted ($0.24) EPS. research analysts expect that Minerva Neurosciences, Inc will post -1.28 EPS for the current fiscal year.
Minerva Neurosciences Profile
Minerva Neurosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio and indications include MIN-101 for the treatment of schizophrenia; MIN-202, for the treatment of insomnia disorder and major depressive disorder (MDD); MIN-117, for the treatment of MDD, and MIN-301 for the treatment of Parkinson’s disease.
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