Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Minerva Neurosciences, Inc (NASDAQ:NERV) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.43 and traded as low as $4.33. Minerva Neurosciences shares last traded at $4.35, with a volume of 126,440 shares trading hands.

Analyst Ratings Changes

NERV has been the subject of several research reports. HC Wainwright reaffirmed a “neutral” rating and issued a $7.00 price target (up from $4.00) on shares of Minerva Neurosciences in a report on Thursday, March 12th. Wall Street Zen cut shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. Finally, Citizens Jmp initiated coverage on Minerva Neurosciences in a report on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

Minerva Neurosciences Stock Performance

The stock has a market cap of $191.48 million, a price-to-earnings ratio of -0.14 and a beta of -0.18. The company’s 50 day simple moving average is $5.37 and its 200 day simple moving average is $5.35.

Minerva Neurosciences (NASDAQ:NERV) last posted its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Sell-side analysts predict that Minerva Neurosciences, Inc will post -0.2 EPS for the current year.

Institutional Trading of Minerva Neurosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Apella Capital LLC lifted its holdings in shares of Minerva Neurosciences by 7.8% in the fourth quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 3,066 shares during the period. Federated Hermes Inc. grew its holdings in Minerva Neurosciences by 297.5% during the fourth 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 during the period. Renaissance Technologies LLC grew its holdings in Minerva Neurosciences by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 32,700 shares during the period. State Street Corp raised its position in Minerva Neurosciences by 45.4% in the fourth quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Vivo Capital LLC bought a new stake in Minerva Neurosciences in the fourth quarter worth about $17,377,000. Institutional investors own 34.56% of the company’s stock.

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.