Seven Fleet Capital Management LP Makes New Investment in Minerva Neurosciences, Inc $NERV

Key Points

• Seven Fleet Capital Management acquired 1.14 million Minerva Neurosciences shares worth approximately $6.9 million, representing about 2.44% of the company and 2.2% of the fund’s portfolio.
• Institutional interest increased, with several hedge funds initiating or expanding positions; hedge funds and other institutions now own 34.56% of NERV.
• Analyst sentiment is mixed, with an average “Hold” rating and a $10.50 price target. NERV opened at $3.98 and recently missed quarterly EPS expectations, reporting a loss of $0.17 per share versus the expected $0.13 loss.

Seven Fleet Capital Management LP bought a new stake in shares of Minerva Neurosciences, Inc (NASDAQ:NERV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,137,730 shares of the biopharmaceutical company's stock, valued at approximately $6,855,000. Minerva Neurosciences makes up about 2.2% of Seven Fleet Capital Management LP's portfolio, making the stock its 12th biggest position. Seven Fleet Capital Management LP owned approximately 2.44% of Minerva Neurosciences at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NERV. Federated Hermes Inc. raised its position in shares of Minerva Neurosciences by 297.5% in the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company's stock worth $21,595,000 after acquiring an additional 4,020,500 shares in the last quarter. Vivo Capital LLC bought a new stake in Minerva Neurosciences during the fourth quarter valued at about $17,377,000. Janus Henderson Group PLC boosted its position in Minerva Neurosciences by 47,614.0% during the first quarter. Janus Henderson Group PLC now owns 4,294,259 shares of the biopharmaceutical company's stock valued at $25,873,000 after purchasing an additional 4,285,259 shares in the last quarter. Logos Global Management LP purchased a new position in Minerva Neurosciences in the fourth quarter valued at about $13,310,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Minerva Neurosciences in the fourth quarter valued at about $11,409,000. 34.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NERV. Weiss Ratings reissued a "sell (d-)" rating on shares of Minerva Neurosciences in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Minerva Neurosciences from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Citizens Jmp initiated coverage on shares of Minerva Neurosciences in a research note on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 price objective for the company. One equities 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.50.

Minerva Neurosciences Stock Down 1.0%

NERV opened at $3.98 on Friday. The company has a market cap of $185.43 million, a P/E ratio of -0.14 and a beta of -0.16. The firm'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) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). On average, research analysts anticipate that Minerva Neurosciences, Inc will post -0.2 EPS for the current fiscal year.

Minerva Neurosciences 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.