Jennison Associates LLC Reduces Position in Marinus Pharmaceuticals Inc (MRNS)

Jennison Associates LLC decreased its holdings in Marinus Pharmaceuticals Inc (NASDAQ:MRNS) by 31.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,902,523 shares of the biopharmaceutical company’s stock after selling 854,833 shares during the quarter. Jennison Associates LLC owned 4.69% of Marinus Pharmaceuticals worth $19,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRNS. BlackRock Inc. boosted its holdings in shares of Marinus Pharmaceuticals by 316.9% in the second quarter. BlackRock Inc. now owns 2,650,612 shares of the biopharmaceutical company’s stock worth $18,740,000 after buying an additional 2,014,774 shares during the last quarter. VHCP Management II LLC purchased a new position in shares of Marinus Pharmaceuticals in the second quarter worth approximately $2,441,000. Northern Trust Corp boosted its holdings in shares of Marinus Pharmaceuticals by 625.7% in the second quarter. Northern Trust Corp now owns 386,864 shares of the biopharmaceutical company’s stock worth $2,736,000 after buying an additional 333,555 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marinus Pharmaceuticals by 190.4% in the second quarter. Bank of New York Mellon Corp now owns 106,560 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 69,863 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Marinus Pharmaceuticals in the second quarter worth approximately $480,000. 67.34% of the stock is currently owned by institutional investors.

Shares of NASDAQ:MRNS opened at $4.35 on Friday. Marinus Pharmaceuticals Inc has a 1-year low of $3.31 and a 1-year high of $10.54. The company has a market cap of $177.90 million, a price-to-earnings ratio of -5.44 and a beta of 3.20.

Marinus Pharmaceuticals (NASDAQ:MRNS) last issued its quarterly earnings results on Monday, October 29th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.06). As a group, equities research analysts forecast that Marinus Pharmaceuticals Inc will post -0.93 EPS for the current fiscal year.

A number of research firms recently issued reports on MRNS. Zacks Investment Research downgraded shares of Marinus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Cantor Fitzgerald set a $19.00 price objective on shares of Marinus Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, October 31st. ValuEngine downgraded shares of Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. BidaskClub downgraded shares of Marinus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 15th. Finally, Mizuho reaffirmed a “buy” rating and set a $13.00 price target on shares of Marinus Pharmaceuticals in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $19.67.

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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 different dose forms: intravenous (IV), capsule, and liquid.

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Institutional Ownership by Quarter for Marinus Pharmaceuticals (NASDAQ:MRNS)

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