Minerva Neurosciences (NASDAQ:NERV) Stock Price Passes Above 50-Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyMinerva Neurosciences, Inc (NASDAQ:NERV – Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.30 and traded as high as $6.39. Minerva Neurosciences shares last traded at $6.33, with a volume of 116,083 shares traded.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on NERV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Monday, December 29th. Wall Street Zen cut shares of Minerva Neurosciences from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, HC Wainwright reduced their target price on shares of Minerva Neurosciences from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $4.00.
Read Our Latest Research Report on NERV
Minerva Neurosciences Stock Performance
The stock has a market capitalization of $273.90 million, a price-to-earnings ratio of -3.42 and a beta of -0.22. The business has a 50-day moving average of $4.30 and a 200-day moving average of $3.36.
Institutional Trading of Minerva Neurosciences
An institutional investor recently raised its position in Minerva Neurosciences stock. Apella Capital LLC grew its position in shares of Minerva Neurosciences, Inc (NASDAQ:NERV – Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,380 shares of the biopharmaceutical company’s stock after purchasing an additional 3,066 shares during the period. Apella Capital LLC owned approximately 0.10% of Minerva Neurosciences worth $170,000 as of its most recent SEC filing. Institutional investors and hedge funds own 34.56% of the company’s stock.
About Minerva Neurosciences
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.