Edward F. Smith Sells 24,211 Shares of Marinus Pharmaceuticals Inc (NASDAQ:MRNS) Stock

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Marinus Pharmaceuticals Inc (NASDAQ:MRNS) CFO Edward F. Smith sold 24,211 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $5.03, for a total value of $121,781.33. Following the completion of the sale, the chief financial officer now directly owns 20,097 shares of the company’s stock, valued at approximately $101,087.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ MRNS opened at $3.80 on Wednesday. The company has a market cap of $199.71 million, a price-to-earnings ratio of -4.22 and a beta of 3.16. Marinus Pharmaceuticals Inc has a 52-week low of $2.36 and a 52-week high of $10.54.

Marinus Pharmaceuticals (NASDAQ:MRNS) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Equities research analysts expect that Marinus Pharmaceuticals Inc will post -0.86 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of Marinus Pharmaceuticals by 1,082.4% during the 4th quarter. Meeder Asset Management Inc. now owns 10,819 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,904 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Marinus Pharmaceuticals by 1,465.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,047 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 9,405 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Marinus Pharmaceuticals during the 4th quarter worth approximately $49,000. IPG Investment Advisors LLC acquired a new stake in shares of Marinus Pharmaceuticals during the 4th quarter worth approximately $50,000. Finally, Citigroup Inc. raised its position in shares of Marinus Pharmaceuticals by 38.4% during the 1st quarter. Citigroup Inc. now owns 13,216 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 3,666 shares during the period. Institutional investors and hedge funds own 63.35% of the company’s stock.

Several equities research analysts have recently weighed in on MRNS shares. Jefferies Financial Group started coverage on Marinus Pharmaceuticals in a research report on Tuesday, March 5th. They issued a “buy” rating and a $10.00 target price for the company. ValuEngine raised Marinus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Zacks Investment Research cut Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $22.00 price target on shares of Marinus Pharmaceuticals in a research note on Wednesday, May 1st. Finally, Mizuho cut Marinus Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $5.00 in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $14.93.

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Marinus Pharmaceuticals Company Profile

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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