889,254 Shares in Minerva Neurosciences, Inc $NERV Bought by DV Trading LLC

Key Points

• DV Trading LLC acquired 889,254 shares of Minerva Neurosciences during the first quarter, worth approximately $5.36 million and representing about 1.91% of the company.
• Institutional ownership increased, with several funds initiating or expanding positions; hedge funds and other institutions now own approximately 34.56% of NERV.
• NERV shares opened at $3.98, well below their 52-week high of $12.46. Analyst views are mixed, resulting in a consensus “Hold” rating and a $10.50 price target, while the company’s latest quarterly loss missed estimates.

DV Trading LLC bought a new position in shares of Minerva Neurosciences, Inc (NASDAQ:NERV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 889,254 shares of the biopharmaceutical company's stock, valued at approximately $5,358,000. Minerva Neurosciences accounts for about 0.1% of DV Trading LLC's investment portfolio, making the stock its 10th largest holding. DV Trading LLC owned approximately 1.91% of Minerva Neurosciences at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC acquired a new position in shares of Minerva Neurosciences in the 4th quarter valued at $36,000. OMERS ADMINISTRATION Corp acquired a new stake in Minerva Neurosciences during the 1st quarter worth about $62,000. Cannon Global Investment Management LLC purchased a new stake in Minerva Neurosciences during the first quarter valued at about $107,000. State Street Corp lifted its stake in Minerva Neurosciences by 45.4% during the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company's stock valued at $97,000 after buying an additional 7,500 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Minerva Neurosciences by 78,272.5% in the first quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company's stock worth $241,000 after buying an additional 39,919 shares during the period. 34.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NERV shares. Weiss Ratings restated a "sell (d-)" rating on shares of Minerva Neurosciences in a report on Wednesday, June 24th. Citizens Jmp assumed coverage on shares of Minerva Neurosciences in a research note on Wednesday, April 15th. They issued a "market outperform" rating and a $14.00 price objective for the company. Finally, Wall Street Zen lowered shares of Minerva Neurosciences from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Minerva Neurosciences currently has a consensus rating of "Hold" and a consensus price target of $10.50.

Minerva Neurosciences Stock Performance

Shares of NERV opened at $3.98 on Friday. The company has a market capitalization of $185.43 million, a PE ratio of -0.14 and a beta of -0.16. The company's 50 day moving average price is $4.60 and its 200 day moving average price is $5.42. Minerva Neurosciences, Inc has a 52 week low of $1.76 and a 52 week high of $12.46.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). On average, equities analysts forecast that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Minerva Neurosciences Company Profile

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.

Want to see what other hedge funds are holding NERV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Minerva Neurosciences, Inc (NASDAQ:NERV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.