Short Interest in Minerva Neurosciences, Inc. (NASDAQ:NERV) Decreases By 54.1%

Minerva Neurosciences, Inc. (NASDAQ:NERV) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 26,100 shares, a decline of 54.1% from the February 28th total of 56,900 shares. Based on an average trading volume of 42,400 shares, the short-interest ratio is currently 0.6 days. Approximately 0.5% of the company’s shares are sold short.

Minerva Neurosciences Stock Performance

NASDAQ:NERV remained flat at $1.81 during trading hours on Friday. 10,508 shares of the company’s stock were exchanged, compared to its average volume of 28,423. The stock has a market cap of $12.66 million, a price-to-earnings ratio of -4.11 and a beta of 0.10. The company’s 50-day moving average is $1.93 and its 200 day moving average is $2.24. Minerva Neurosciences has a 12 month low of $1.42 and a 12 month high of $3.69.

Minerva Neurosciences (NASDAQ:NERV) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.49. On average, analysts forecast that Minerva Neurosciences will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NERV has been the subject of a number of recent analyst reports. StockNews.com began coverage on Minerva Neurosciences in a research report on Wednesday. They issued a “sell” rating for the company. HC Wainwright restated a “neutral” rating and issued a $5.00 price target on shares of Minerva Neurosciences in a report on Wednesday, February 26th.

Hedge Funds Weigh In On Minerva Neurosciences

A hedge fund recently raised its stake in Minerva Neurosciences stock. Citadel Advisors LLC grew its holdings in shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) by 49.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,764 shares of the biopharmaceutical company’s stock after acquiring an additional 8,525 shares during the period. Citadel Advisors LLC owned about 0.37% of Minerva Neurosciences worth $57,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 34.56% of the company’s stock.

About Minerva Neurosciences

Minerva Neurosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of product candidates for the treatment of central nervous system diseases. Its lead product candidate is roluperidone (MIN-101) for the treatment of negative symptoms in patients with schizophrenia, currently submitted an New Drug Application (NDA); and MIN-301, a soluble recombinant form of the neuregulin-1b1 protein for the treatment of Parkinson's disease and other neurodegenerative disorders.