Minerva Neurosciences, Inc.

Clinical/early-stage biotech — CNS clinical (cash-rich but program setbacks).

Strengths

• Liquidity — current ratio 36.3 (99th)

Risks

• Pre-revenue, deep losses — per metrics
• Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
• Binary clinical & funding risk — per 10-K

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
• Buying back stockNet buyback — share count -34%/yr over 4y
• Notable holderHeld by 3 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC (as of 2026-03-31)
• AccumulatingInstitutional holders rose 5→6 QoQ (2025-12-31→2026-03-31)
• New fund positionNotable fund(s) opened this quarter: GOLDMAN SACHS GROUP INC