Minerva Neurosciences (NASDAQ:NERV) Stock Crosses Below 200 Day Moving Average of $5.57

Shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.57 and traded as low as $2.45. Minerva Neurosciences shares last traded at $2.48, with a volume of 11,384 shares.

Analyst Ratings Changes

Several research analysts have weighed in on NERV shares. HC Wainwright restated a “neutral” rating and issued a $11.00 price target on shares of Minerva Neurosciences in a research note on Tuesday, February 27th. StockNews.com downgraded Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd.

Minerva Neurosciences Trading Down 0.8 %

The stock has a market capitalization of $17.34 million, a P/E ratio of -0.53 and a beta of 0.21. The business has a 50-day moving average price of $3.91 and a 200 day moving average price of $5.57.

Minerva Neurosciences (NASDAQ:NERV) last posted its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.31). On average, sell-side analysts predict that Minerva Neurosciences, Inc. will post -3.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG lifted its position in Minerva Neurosciences by 914.5% in the third quarter. UBS Group AG now owns 5,732 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 5,167 shares during the last quarter. Renaissance Technologies LLC lifted its position in Minerva Neurosciences by 185.9% in the third quarter. Renaissance Technologies LLC now owns 101,800 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 66,189 shares during the last quarter. BlackRock Inc. lifted its position in Minerva Neurosciences by 54.7% in the third quarter. BlackRock Inc. now owns 78,086 shares of the biopharmaceutical company’s stock worth $721,000 after buying an additional 27,612 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Minerva Neurosciences by 150,466.7% in the second quarter. JPMorgan Chase & Co. now owns 4,517 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 4,514 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Minerva Neurosciences by 26.5% in the second quarter. Geode Capital Management LLC now owns 51,964 shares of the biopharmaceutical company’s stock worth $475,000 after buying an additional 10,900 shares during the last quarter. 34.56% of the stock is currently owned by institutional investors.

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.