Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Minerva Neurosciences shares fell below their 200-day moving average of $5.28, reaching as low as $3.57 and closing near $3.83.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, one Hold and two Sell ratings, despite an average price target of $10.33.
• Minerva reported a quarterly loss of $0.14 per share, beating the estimated $0.19 loss; institutional investors and hedge funds own approximately 34.56% of the company.

Minerva Neurosciences, Inc (NASDAQ:NERV - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.28 and traded as low as $3.57. Minerva Neurosciences shares last traded at $3.83, with a volume of 287,171 shares traded.

Wall Street Analyst Weigh In

NERV has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Minerva Neurosciences in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Minerva Neurosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research cut shares of Minerva Neurosciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Minerva Neurosciences from a "hold" rating to a "mixed" rating and upped their price target for the company from $7.50 to $10.00 in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $10.33.

Minerva Neurosciences Stock Performance

The company has a market cap of $182.87 million, a PE ratio of -0.13 and a beta of -0.08. The stock's 50-day simple moving average is $4.40 and its 200 day simple moving average is $5.28.

Minerva Neurosciences (NASDAQ:NERV - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05. On average, sell-side analysts predict that Minerva Neurosciences, Inc will post -0.73 EPS for the current fiscal year.

Institutional Trading of Minerva Neurosciences

Hedge funds have recently modified their holdings of the business. OMERS ADMINISTRATION Corp purchased a new position in Minerva Neurosciences in the first quarter worth $62,000. Cannon Global Investment Management LLC acquired a new position in shares of Minerva Neurosciences during the 1st quarter worth $107,000. Bank of America Corp DE increased its holdings in shares of Minerva Neurosciences by 78,272.5% in the 1st quarter. Bank of America Corp DE now owns 39,970 shares of the biopharmaceutical company's stock valued at $241,000 after purchasing an additional 39,919 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Minerva Neurosciences in the 2nd quarter valued at about $419,000. Finally, DV Trading LLC purchased a new stake in Minerva Neurosciences during the first quarter worth about $5,358,000. 34.56% of the stock is owned by institutional investors and hedge funds.

Minerva Neurosciences Company Profile

Minerva Neurosciences, Inc is a biopharmaceutical company focused on developing treatments for central nervous system disorders. The company's research has centered on therapies for conditions with significant unmet medical needs, including schizophrenia, depression and other neuropsychiatric diseases.

Minerva's leading investigational product has been roluperidone, formerly known as MIN-101. The orally administered compound is designed to address negative symptoms of schizophrenia, such as social withdrawal, reduced motivation and diminished emotional expression.

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