Minerva Neurosciences (NASDAQ:NERV) Shares Pass Below 200 Day Moving Average of $5.76

Minerva Neurosciences, Inc. (NASDAQ:NERV) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.76 and traded as low as $2.41. Minerva Neurosciences shares last traded at $2.54, with a volume of 14,230 shares trading hands.

Analyst Upgrades and Downgrades

NERV has been the topic of a number of recent research reports. StockNews.com lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. HC Wainwright reiterated a “neutral” rating and set a $11.00 price objective on shares of Minerva Neurosciences in a research report on Tuesday, February 27th.

Minerva Neurosciences Stock Performance

The stock’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $5.76. The stock has a market cap of $17.75 million, a P/E ratio of -0.55 and a beta of 0.21.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.31). As a group, equities research analysts forecast that Minerva Neurosciences, Inc. will post -3.57 earnings per share for the current year.

Institutional Trading of Minerva Neurosciences

Several large investors have recently modified their holdings of NERV. JPMorgan Chase & Co. lifted its position in Minerva Neurosciences by 150,466.7% during the second quarter. JPMorgan Chase & Co. now owns 4,517 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,514 shares during the period. UBS Group AG raised its position in shares of Minerva Neurosciences by 914.5% in the 3rd quarter. UBS Group AG now owns 5,732 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 5,167 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Minerva Neurosciences by 8.3% during the 4th quarter. Renaissance Technologies LLC now owns 110,300 shares of the biopharmaceutical company’s stock worth $175,000 after acquiring an additional 8,500 shares during the period. Geode Capital Management LLC boosted its position in shares of Minerva Neurosciences by 26.5% during the 2nd quarter. Geode Capital Management LLC now owns 51,964 shares of the biopharmaceutical company’s stock worth $475,000 after acquiring an additional 10,900 shares in the last quarter. Finally, Northern Trust Corp bought a new position in Minerva Neurosciences in the fourth quarter valued at approximately $154,000. 34.56% of the stock is owned by institutional investors and hedge funds.

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.