Short Interest in Minerva Neurosciences, Inc. (NASDAQ:NERV) Declines By 54.1%

Minerva Neurosciences, Inc. (NASDAQ:NERV) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 26,100 shares, a decrease of 54.1% from the February 28th total of 56,900 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 42,400 shares, the days-to-cover ratio is currently 0.6 days.

Minerva Neurosciences Price Performance

Shares of Minerva Neurosciences stock remained flat at $1.81 during trading hours on Friday. The company’s stock had a trading volume of 10,508 shares, compared to its average volume of 28,423. The company has a market capitalization of $12.66 million, a price-to-earnings ratio of -4.11 and a beta of 0.10. Minerva Neurosciences has a one year low of $1.42 and a one year high of $3.69. The company’s 50-day moving average is $1.93 and its two-hundred day moving average is $2.23.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.49. As a group, equities analysts forecast that Minerva Neurosciences will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Minerva Neurosciences

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

Wall Street Analyst Weigh In

NERV has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating and issued a $5.00 price objective on shares of Minerva Neurosciences in a research report on Wednesday, February 26th. StockNews.com assumed coverage on shares of Minerva Neurosciences in a research note on Wednesday. They set a “sell” rating on the stock.

About Minerva Neurosciences

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.