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

Minerva Neurosciences, Inc. (NASDAQ:NERV) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 42,000 shares, an increase of 101.0% from the January 31st total of 20,900 shares. Based on an average trading volume of 41,600 shares, the short-interest ratio is presently 1.0 days. Approximately 0.8% of the shares of the stock are short sold.

Minerva Neurosciences Stock Down 1.8 %

Shares of NASDAQ NERV traded down $0.03 during trading hours on Friday, reaching $1.67. 18,703 shares of the stock traded hands, compared to its average volume of 47,113. The company has a market capitalization of $11.68 million, a P/E ratio of -3.80 and a beta of 0.12. Minerva Neurosciences has a 52-week low of $1.64 and a 52-week high of $3.69. The company’s 50-day simple moving average is $2.14 and its two-hundred day simple moving average is $2.38.

Minerva Neurosciences (NASDAQ:NERV) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.49. As a group, sell-side analysts forecast that Minerva Neurosciences will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com assumed coverage on Minerva Neurosciences in a report on Saturday, February 22nd. They issued a “sell” rating on the stock. HC Wainwright reissued a “neutral” rating and set a $5.00 price objective on shares of Minerva Neurosciences in a report on Wednesday.

Hedge Funds Weigh In On Minerva Neurosciences

An institutional investor recently raised its position in Minerva Neurosciences stock. Citadel Advisors LLC increased its stake in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the biopharmaceutical company’s stock after acquiring an additional 8,525 shares during the quarter. Citadel Advisors LLC owned approximately 0.37% of Minerva Neurosciences worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 34.56% of the company’s stock.

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.