Minerva Neurosciences Inc (NASDAQ:NERV) stated gains of 2,536,434 shares or 3374.2% in the short interest. The short interest registered from 75,172 on May 31,2016 to 2,611,606 on June 15,2016. In terms of floated shares, the shorted positions stood at 16.5%. The stock has been averaging 1,662,726 shares daily in trading and would need 2 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Minerva Neurosciences Inc (NASDAQ:NERV): The stock opened at $10.18 on Friday but the bulls could not build on the opening and the stock topped out at $10.67 for the day. The stock traded down to $9.88 during the day, due to lack of any buying support eventually closed down at $10.23 with a loss of -5.28% for the day. The stock had closed at $10.80 on the previous day. The total traded volume was 2,523,991 shares.
The company shares have rallied 89.09% from its 1 Year high price. On Jun 2, 2016, the shares registered one year high at $15.84 and the one year low was seen on May 25, 2016. The 50-Day Moving Average price is $8.86 and the 200 Day Moving Average price is recorded at $6.42.
Stocks of Minerva Neurosciences Inc (NASDAQ:NERV) rallied by 0.49% during the past week but lost 9.63% on a 4-week basis. The company has outperformed the S&P 500 by 2.16% in the past week but underperformed the index by 6.89% in the last 4 weeks.
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. Its lead product candidate is MIN-101, a compound for the potential treatment of patients with schizophrenia. Its product pipeline also includes MIN-117, MIN-202 and MIN-301. MIN-101 is a compound it is developing for the treatment of patients with schizophrenia. MIN-117 is a compound for the potential treatment of patients suffering from major depressive disorder (MDD). MIN-202 is a selective orexin 2 receptor antagonist it is developing in collaboration with Janssen for the treatment of insomnia. MIN-301 is a soluble recombinant form of the Neuregulin-1b1 (NRG-1b1) protein, for the treatment of Parkinsons disease.