Janus Henderson Group PLC Increases Stock Position in Minerva Neurosciences, Inc $NERV

Key Points

• Janus Henderson sharply increased its Minerva Neurosciences stake by 47,614% in the first quarter, ending with 4.29 million shares worth about $25.9 million, or 9.22% of the company. Other major funds also built positions, and institutional investors collectively own 34.56% of NERV.
• Minerva’s shares opened at $3.97, well below their 52-week high of $12.46, while the company reported a quarterly loss of $0.17 per share—$0.04 worse than analysts expected.
• Analyst sentiment is mixed: coverage includes Buy, Hold and Sell ratings, producing an overall “Hold” consensus and an average price target of $10.50 versus the current share price.

Janus Henderson Group PLC boosted its position in shares of Minerva Neurosciences, Inc (NASDAQ:NERV - Free Report) by 47,614.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,294,259 shares of the biopharmaceutical company's stock after buying an additional 4,285,259 shares during the quarter. Janus Henderson Group PLC owned approximately 9.22% of Minerva Neurosciences worth $25,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vivo Capital LLC acquired a new position in shares of Minerva Neurosciences in the fourth quarter worth about $17,377,000. Federated Hermes Inc. grew its position in shares of Minerva Neurosciences by 297.5% during the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company's stock valued at $21,595,000 after acquiring an additional 4,020,500 shares during the period. Logos Global Management LP acquired a new stake in shares of Minerva Neurosciences during the 4th quarter valued at about $13,310,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Minerva Neurosciences in the 4th quarter valued at about $11,409,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Minerva Neurosciences in the 4th quarter valued at about $9,507,000. Hedge funds and other institutional investors own 34.56% of the company's stock.

Minerva Neurosciences Stock Down 0.3%

NERV opened at $3.97 on Tuesday. The firm's fifty day simple moving average is $4.58 and its two-hundred day simple moving average is $5.43. Minerva Neurosciences, Inc has a 52-week low of $1.76 and a 52-week high of $12.46. The company has a market cap of $184.96 million, a price-to-earnings ratio of -0.14 and a beta of -0.16.

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

Analyst Upgrades and Downgrades

NERV has been the topic of a number of recent analyst reports. Citizens Jmp began coverage on Minerva Neurosciences in a research report on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Minerva Neurosciences from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $10.50.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source