Minerva Neurosciences (NASDAQ:NERV) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Minerva Neurosciences, Inc. (NASDAQ:NERV) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.09 and traded as low as $1.57. Minerva Neurosciences shares last traded at $1.60, with a volume of 2,104 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. HC Wainwright reissued a “neutral” rating and set a $5.00 target price on shares of Minerva Neurosciences in a research note on Wednesday, February 26th. StockNews.com assumed coverage on shares of Minerva Neurosciences in a research report on Saturday. They set a “sell” rating for the company.

Minerva Neurosciences Price Performance

The stock’s 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $2.09. The firm has a market capitalization of $11.19 million, a P/E ratio of -3.64 and a beta of -0.09.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.49. On average, analysts forecast that Minerva Neurosciences, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp increased its holdings in shares of Minerva Neurosciences by 60.0% in the fourth quarter. Northern Trust Corp now owns 36,878 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 13,829 shares during the last quarter. Citadel Advisors LLC grew its holdings in Minerva Neurosciences by 49.5% during the 4th quarter. Citadel Advisors LLC now owns 25,764 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 8,525 shares in the last quarter. Finally, Apella Capital LLC bought a new stake in Minerva Neurosciences in the 1st quarter worth approximately $35,000. Institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Company Profile

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.