Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Sees Significant Growth in Short Interest

by · The Markets Daily

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS – Get Free Report) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 5,660,000 shares, a growth of 62.2% from the October 15th total of 3,490,000 shares. Based on an average daily trading volume, of 2,360,000 shares, the short-interest ratio is presently 2.4 days.

Marinus Pharmaceuticals Price Performance

MRNS stock traded down $0.04 during mid-day trading on Wednesday, reaching $0.30. 1,735,482 shares of the stock traded hands, compared to its average volume of 1,585,814. Marinus Pharmaceuticals has a 52-week low of $0.26 and a 52-week high of $11.26. The stock’s fifty day moving average is $1.28 and its 200-day moving average is $1.34.

Marinus Pharmaceuticals (NASDAQ:MRNS – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.02. Marinus Pharmaceuticals had a negative net margin of 446.48% and a negative return on equity of 7,831.35%. The company had revenue of $8.54 million during the quarter, compared to analyst estimates of $8.95 million. On average, analysts forecast that Marinus Pharmaceuticals will post -1.92 earnings per share for the current year.

Institutional Trading of Marinus Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MRNS. Point72 DIFC Ltd purchased a new stake in shares of Marinus Pharmaceuticals in the second quarter worth approximately $28,000. SG Americas Securities LLC purchased a new stake in shares of Marinus Pharmaceuticals in the second quarter worth approximately $34,000. AQR Capital Management LLC lifted its position in shares of Marinus Pharmaceuticals by 70.3% in the second quarter. AQR Capital Management LLC now owns 31,333 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 12,934 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Marinus Pharmaceuticals in the second quarter worth approximately $64,000. Finally, Values First Advisors Inc. lifted its position in shares of Marinus Pharmaceuticals by 501.8% in the second quarter. Values First Advisors Inc. now owns 62,671 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 52,257 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRNS has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on shares of Marinus Pharmaceuticals from $13.00 to $4.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. EF Hutton Acquisition Co. I upgraded shares of Marinus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 30th. JMP Securities reiterated a “market perform” rating on shares of Marinus Pharmaceuticals in a research report on Thursday, October 24th. Oppenheimer upgraded shares of Marinus Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 target price for the company in a research report on Monday, September 23rd. Finally, TD Cowen reissued a “hold” rating on shares of Marinus Pharmaceuticals in a report on Friday, October 25th. Nine analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marinus Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $6.07.

Read Our Latest Stock Analysis on Marinus Pharmaceuticals

Marinus Pharmaceuticals Company Profile

(Get Free Report)

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.

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