Minerva Neurosciences rises 75% after Steven Cohen firm discloses large stake
Minerva Neurosciences (NASDAQ:NERV) is up 75% in Wednesday afternoon trading following an SEC filing stating that Point72 Capital Advisors has an 8.8% stake in the company. The company reached a high today of $8.58 per share, though that is still well below the 52-week high of $16.80. The filing, posted after Tuesday's closing bell, states that Point72 has 470K outstanding shares. Steven A. Cohen is founder of Point72. Minerva (NERV) is focused on treatments for central nervous system diseases. Its lead candidate, roluperidone, is in phase 3 for schizophrenia. Seeking Alpha's Quant Rating views Minerva (NERV) as a hold with strong grades for revisions and momentum.
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