Marinus Pharmaceuticals (NASDAQ:MRNS) Stock Crosses Below 200-Day Moving Average – Here’s Why

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.86 and traded as low as $0.55. Marinus Pharmaceuticals shares last traded at $0.55, with a volume of 260 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on MRNS shares. StockNews.com started coverage on shares of Marinus Pharmaceuticals in a research note on Saturday. They issued a “sell” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $4.00 price target on shares of Marinus Pharmaceuticals in a research report on Thursday, November 14th. Finally, HC Wainwright reissued a “neutral” rating and set a $2.00 price objective on shares of Marinus Pharmaceuticals in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $4.79.

Marinus Pharmaceuticals Stock Performance

The stock has a market cap of $30.32 million, a PE ratio of -0.22 and a beta of 1.03. The firm has a fifty day moving average price of $0.49 and a 200 day moving average price of $0.85.

Institutional Investors Weigh In On Marinus Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Beryl Capital Management LLC purchased a new position in shares of Marinus Pharmaceuticals in the 4th quarter valued at approximately $2,262,000. abrdn plc raised its holdings in shares of Marinus Pharmaceuticals by 146.1% in the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock worth $4,679,000 after buying an additional 1,578,329 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in shares of Marinus Pharmaceuticals by 32.8% during the third quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after buying an additional 1,253,901 shares during the period. Franklin Resources Inc. grew its holdings in shares of Marinus Pharmaceuticals by 34.9% during the third quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock valued at $8,483,000 after buying an additional 1,219,871 shares during the last quarter. Finally, Woodline Partners LP raised its stake in Marinus Pharmaceuticals by 84.7% in the 4th quarter. Woodline Partners LP now owns 2,335,681 shares of the biopharmaceutical company’s stock worth $1,250,000 after acquiring an additional 1,071,410 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.