Marinus Pharmaceuticals (NASDAQ:MRNS) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.86 and traded as low as $0.55. Marinus Pharmaceuticals shares last traded at $0.55, with a volume of 260 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com started coverage on shares of Marinus Pharmaceuticals in a research note on Saturday. They set a “sell” rating for the company. HC Wainwright restated a “neutral” rating and set a $2.00 target price on shares of Marinus Pharmaceuticals in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $4.00 price target on shares of Marinus Pharmaceuticals in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.79.

Marinus Pharmaceuticals Stock Performance

The firm has a market capitalization of $30.32 million, a PE ratio of -0.22 and a beta of 1.03. The firm’s 50 day moving average price is $0.49 and its 200-day moving average price is $0.85.

Hedge Funds Weigh In On Marinus Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Suvretta Capital Management LLC raised its stake in shares of Marinus Pharmaceuticals by 32.8% during the 3rd quarter. Suvretta Capital Management LLC now owns 5,073,913 shares of the biopharmaceutical company’s stock worth $8,930,000 after buying an additional 1,253,901 shares during the period. Franklin Resources Inc. increased its holdings in Marinus Pharmaceuticals by 34.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,713,014 shares of the biopharmaceutical company’s stock worth $8,483,000 after acquiring an additional 1,219,871 shares in the last quarter. Beryl Capital Management LLC acquired a new position in Marinus Pharmaceuticals during the fourth quarter worth $2,262,000. abrdn plc lifted its holdings in Marinus Pharmaceuticals by 146.1% during the third quarter. abrdn plc now owns 2,658,527 shares of the biopharmaceutical company’s stock valued at $4,679,000 after purchasing an additional 1,578,329 shares in the last quarter. Finally, Woodline Partners LP grew its position in shares of Marinus Pharmaceuticals by 84.7% in the fourth quarter. Woodline Partners LP now owns 2,335,681 shares of the biopharmaceutical company’s stock valued at $1,250,000 after purchasing an additional 1,071,410 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.