Suvretta Capital Management LLC recently announced the acquisition of new stake in Marinus Pharmaceuticals Inc (NASDAQ:MRNS). The institutional investor has increased its shareholding in the Healthcare company by 28.28% to 5.2 million shares with purchase of 1.15 million shares. This fresh investment now brings its stake to 9.54% valued currently at $35.03 million. In addition, Eventide Asset Management LLC raised its holdings by 1.36 million to 4.53 million shares. And Franklin Advisers, Inc. has lifted its position by 187.37% or 2.47 million shares – to 3.78 million shares.
With over 0.48 million Marinus Pharmaceuticals Inc (MRNS) shares trading Friday and a closing price of $10.44 on the day, the dollar volume was approximately $5.05 million. The shares have shown a positive half year performance of 3.26% and its price on 12/22/23 gained nearly 7.52%. Currently, there are 54.57M common shares owned by the public and among those 51.80M shares have been available to trade.
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Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 207,301 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 19,566 shares.
The top 3 mutual fund holders in Marinus Pharmaceuticals Inc are Eventide Healthcare & Life Scienc, FTIF SICAV – Biotechnology Discov, and PGIM Jennison Health Sciences Fun. Eventide Healthcare & Life Scienc owns 4.53 million shares of the company’s stock, all valued at over $30.49 million. The company bought an additional 1.36 million shares recently to bring their total holdings to about 8.30% of the shares outstanding. PGIM Jennison Health Sciences Fun now owns shares totaling to 3.16% of the shares outstanding.
Shares of Marinus Pharmaceuticals Inc (NASDAQ: MRNS) opened at $9.85, up $0.14 from a prior closing price of $9.71. However, the script later moved the day high at 10.53, up 7.52%. The company’s stock has a 5-day price change of 21.54% and 46.01% over the past three months. MRNS shares are trading 162.31% year to date (YTD), with the 12-month market performance up to 181.40% higher. It has a 12-month low price of $3.46 and touched a high of $11.15 over the same period. MRNS has an average intraday trading volume of 453.11K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.69%, 46.14%, and 31.72% respectively.
Institutional ownership of Marinus Pharmaceuticals Inc (NASDAQ: MRNS) shares accounts for 89.70% of the company’s 54.57M shares outstanding. Mutual fund holders own 33.13%, while other institutional holders and individual stakeholders account for 56.60% and 0.69% respectively.
It has a market capitalization of $569.71M and a beta (3y monthly) value of 0.93. The earnings-per-share (ttm) stands at -$2.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.82% over the week and 7.07% over the month.
Analysts forecast that Marinus Pharmaceuticals Inc (MRNS) will achieve an EPS of -$0.63 for the current quarter, -$0.59 for the next quarter and -$2.25 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.69 while analysts give the company a high EPS estimate of -$0.52. Comparatively, EPS for the current quarter was -$0.76 a year ago. Earnings per share for the fiscal year are expected to decrease by -395.54%, and 11.83% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 30.82% over the past 5-year period.
Looking at the support for the MRNS, a number of firms have released research notes about the stock. Oppenheimer stated their Perform rating for the stock in a research note on August 11, 2023, with the firm’s price target at $14-$9.
