Marinus Pharmaceuticals Inc (NASDAQ:MRNS) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,950,000 shares, a drop of 11.1% from the September 30th total of 3,320,000 shares. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is presently 2.2 days. Approximately 6.3% of the shares of the company are short sold.
A number of institutional investors have recently added to or reduced their stakes in MRNS. D. E. Shaw & Co. Inc. acquired a new position in Marinus Pharmaceuticals during the 2nd quarter valued at about $76,000. Wells Fargo & Company MN increased its stake in Marinus Pharmaceuticals by 199.6% during the 2nd quarter. Wells Fargo & Company MN now owns 52,642 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 35,072 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Marinus Pharmaceuticals by 32.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,761 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 31,260 shares during the period. Morgan Stanley increased its stake in Marinus Pharmaceuticals by 1,679.6% during the 2nd quarter. Morgan Stanley now owns 187,889 shares of the biopharmaceutical company’s stock valued at $780,000 after buying an additional 177,331 shares during the period. Finally, Northern Trust Corp increased its stake in Marinus Pharmaceuticals by 1.9% during the 2nd quarter. Northern Trust Corp now owns 548,467 shares of the biopharmaceutical company’s stock valued at $2,276,000 after buying an additional 10,204 shares during the period. 54.63% of the stock is currently owned by hedge funds and other institutional investors.
Marinus Pharmaceuticals stock traded down $0.01 during trading hours on Monday, hitting $1.09. 1,832,100 shares of the company traded hands, compared to its average volume of 957,730. The firm has a market cap of $60.87 million, a P/E ratio of -1.21 and a beta of 2.82. The firm’s 50-day simple moving average is $1.29 and its two-hundred day simple moving average is $2.56. Marinus Pharmaceuticals has a 1-year low of $0.77 and a 1-year high of $6.00.
A number of research firms recently weighed in on MRNS. ValuEngine cut shares of Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Marinus Pharmaceuticals in a report on Friday, October 18th. Zacks Investment Research cut shares of Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho dropped their price objective on shares of Marinus Pharmaceuticals from $5.00 to $1.70 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Marinus Pharmaceuticals in a report on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $8.65.
About Marinus Pharmaceuticals
Marinus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. Its clinical stage product candidate, ganaxolone, is an allosteric modulator of GABAA, developed in three dose forms, including intravenous (IV), oral capsule, and oral liquid for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.
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