Minerva Neurosciences, Inc (NASDAQ:NERV) Short Interest Update

Key Points

• Short interest rose 13.3% in April to 1,156,257 shares as of April 15, equal to about 2.9% of the stock and a short-interest ratio of 5.1 days.
• Analyst sentiment is mixed with an average rating of "Hold" and an average target of $10.50, while individual notes range from a $14 "market outperform" to a "sell"; the stock opened at $6.47 with a market cap of about $283.7 million.
• Institutional investors own 34.56% of Minerva, with hedge funds like Renaissance, State Street and Apella recently changing stakes, and the company remains a clinical-stage CNS biotech advancing programs such as roluperidone and MIN-117.

Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 1,156,257 shares, an increase of 13.3% from the March 31st total of 1,020,925 shares. Based on an average daily trading volume, of 227,933 shares, the short-interest ratio is currently 5.1 days. Approximately 2.9% of the shares of the stock are short sold.

Minerva Neurosciences Price Performance

Shares of NERV stock opened at $6.47 on Friday. The company has a market capitalization of $283.66 million, a P/E ratio of -0.24 and a beta of -0.19. The company's 50-day simple moving average is $6.52 and its two-hundred day simple moving average is $5.04. Minerva Neurosciences has a one year low of $1.30 and a one year high of $12.46.

Wall Street Analysts Forecast Growth

NERV has been the topic of a number of research reports. HC Wainwright restated a "neutral" rating and issued a $7.00 target price (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Citizens Jmp started coverage on shares of Minerva Neurosciences in a report on Wednesday, April 15th. They set a "market outperform" rating and a $14.00 price target on the stock. Wall Street Zen upgraded shares of Minerva Neurosciences from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a report on Friday, March 27th. 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's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.50.

Hedge Funds Weigh In On Minerva Neurosciences

A number of hedge funds have recently added to or reduced their stakes in NERV. Apella Capital LLC boosted its stake in shares of Minerva Neurosciences by 7.8% during the fourth quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company's stock valued at $170,000 after purchasing an additional 3,066 shares in the last quarter. State Street Corp boosted its stake in shares of 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 purchasing an additional 7,500 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Minerva Neurosciences during the fourth quarter valued at approximately $36,000. Cannon Global Investment Management LLC bought a new position in shares of Minerva Neurosciences during the first quarter valued at approximately $107,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Minerva Neurosciences by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company's stock valued at $600,000 after purchasing an additional 32,700 shares in the last quarter. 34.56% of the stock is currently owned by institutional investors.

About Minerva Neurosciences

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.

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