Minerva Neurosciences, Inc (NASDAQ:NERV) Short Interest Up 13.3% in April

Minerva Neurosciences, Inc (NASDAQ:NERV) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 1,156,257 shares, an increase of 13.3% from the March 31st total of 1,020,925 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average trading volume of 227,933 shares, the days-to-cover ratio is currently 5.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NERV. Janus Henderson Group PLC purchased a new position in Minerva Neurosciences in the fourth quarter worth about $36,000. State Street Corp grew its position in Minerva Neurosciences by 45.4% in the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 7,500 shares in the last quarter. Cannon Global Investment Management LLC purchased a new position in Minerva Neurosciences in the first quarter worth about $107,000. Apella Capital LLC grew its position in Minerva Neurosciences by 7.8% in the fourth quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 3,066 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Minerva Neurosciences in the fourth quarter worth about $554,000. Hedge funds and other institutional investors own 34.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citizens Jmp assumed coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Minerva Neurosciences in a report on Friday, March 27th. Wall Street Zen raised Minerva Neurosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, HC Wainwright reissued a “neutral” rating and set a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.50.

Minerva Neurosciences Trading Down 6.2%

Shares of NERV stock opened at $6.07 on Friday. Minerva Neurosciences has a 12-month low of $1.30 and a 12-month high of $12.46. The stock’s 50-day moving average price is $6.52 and its 200-day moving average price is $5.06. The stock has a market capitalization of $266.11 million, a price-to-earnings ratio of -0.23 and a beta of -0.08.

About Minerva Neurosciences

Minerva Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for central nervous system (CNS) disorders. The company’s research and development efforts are directed toward addressing unmet needs in psychiatric and neurological conditions, leveraging its expertise in neuropharmacology and receptor modulation. Minerva’s goal is to bring forward differentiated molecules that can offer improved efficacy and safety profiles compared to existing treatments.

The company’s most advanced programs include roluperidone (formerly MIN-101), which has been investigated for the treatment of negative symptoms of schizophrenia, and MIN-117, a novel serotonergic agent being evaluated in major depressive disorder.