Spruce Street Capital LP Invests $6.66 Million in Minerva Neurosciences, Inc $NERV

Spruce Street Capital LP bought a new position in shares of Minerva Neurosciences, Inc (NASDAQ:NERV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,655,500 shares of the biopharmaceutical company’s stock, valued at approximately $6,655,000. Minerva Neurosciences accounts for approximately 2.2% of Spruce Street Capital LP’s investment portfolio, making the stock its 16th largest holding. Spruce Street Capital LP owned 3.83% of Minerva Neurosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently made changes to their positions in NERV. Vivo Capital LLC bought a new position in shares of Minerva Neurosciences during the fourth quarter worth approximately $17,377,000. Federated Hermes Inc. increased its stake in Minerva Neurosciences by 297.5% during the 4th quarter. Federated Hermes Inc. now owns 5,371,775 shares of the biopharmaceutical company’s stock worth $21,595,000 after acquiring an additional 4,020,500 shares during the period. Renaissance Technologies LLC increased its stake in Minerva Neurosciences by 28.1% during the 4th quarter. Renaissance Technologies LLC now owns 149,200 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 32,700 shares during the period. State Street Corp increased its stake in Minerva Neurosciences by 45.4% during the 4th quarter. State Street Corp now owns 24,019 shares of the biopharmaceutical company’s stock worth $97,000 after acquiring an additional 7,500 shares during the period. Finally, Apella Capital LLC increased its stake in Minerva Neurosciences by 7.8% during the 4th quarter. Apella Capital LLC now owns 42,380 shares of the biopharmaceutical company’s stock worth $170,000 after acquiring an additional 3,066 shares during the period. Institutional investors own 34.56% of the company’s stock.

Minerva Neurosciences Price Performance

Minerva Neurosciences stock opened at $4.39 on Tuesday. The stock’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $5.32. Minerva Neurosciences, Inc has a one year low of $1.57 and a one year high of $12.46. The firm has a market cap of $204.53 million, a PE ratio of -0.15 and a beta of -0.18.

Minerva Neurosciences (NASDAQ:NERV) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). Sell-side analysts expect that Minerva Neurosciences, Inc will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NERV. Wall Street Zen lowered Minerva Neurosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Citizens Jmp began coverage on Minerva Neurosciences in a research note on Wednesday, April 15th. They set a “market outperform” rating and a $14.00 price objective on the stock. HC Wainwright restated a “neutral” rating and set a $7.00 price objective (up from $4.00) on shares of Minerva Neurosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Minerva Neurosciences in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.50.

Minerva Neurosciences Profile

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.