Veru (NASDAQ:VERU) Stock Passes Below 200 Day Moving Average – Here’s Why
by Renee Jackson · The Cerbat GemVeru Inc. (NASDAQ:VERU – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.69 and traded as low as $2.39. Veru shares last traded at $2.43, with a volume of 18,400 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Veru in a report on Thursday, December 18th. Wall Street Zen cut shares of Veru from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veru in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group assumed coverage on shares of Veru in a research note on Thursday, December 18th. They set a “buy” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.50.
View Our Latest Stock Analysis on VERU
Veru Price Performance
The company’s 50-day moving average is $2.40 and its 200-day moving average is $2.68. The firm has a market capitalization of $39.16 million, a price-to-earnings ratio of -1.94 and a beta of -1.35.
Veru (NASDAQ:VERU – Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.21. Sell-side analysts anticipate that Veru Inc. will post -0.22 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sheets Smith Investment Management lifted its position in Veru by 1,341.9% during the third quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock valued at $1,224,000 after buying an additional 299,746 shares in the last quarter. Raymond James Financial Inc. lifted its position in Veru by 48.3% during the second quarter. Raymond James Financial Inc. now owns 206,405 shares of the company’s stock valued at $120,000 after buying an additional 67,178 shares in the last quarter. NewEdge Advisors LLC lifted its position in Veru by 388.7% during the fourth quarter. NewEdge Advisors LLC now owns 70,525 shares of the company’s stock valued at $151,000 after buying an additional 56,095 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Veru by 11.9% during the second quarter. Osaic Holdings Inc. now owns 262,820 shares of the company’s stock worth $152,000 after purchasing an additional 27,954 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Veru during the second quarter worth $220,000. 47.16% of the stock is owned by institutional investors and hedge funds.
Veru Company Profile
Veru Inc is a clinical-stage biopharmaceutical company headquartered in Miami, Florida. The company is dedicated to the development and commercialization of novel therapies in the fields of oncology and infectious disease. Veru’s research strategy centers on advancing small-molecule and biologic candidates through clinical trials, leveraging its in-house manufacturing and formulation capabilities as well as strategic partnerships to support late-stage development.
The company’s lead product candidate is sabizabulin (VERU-111), an oral, microtubule-disrupting agent undergoing pivotal trials for indications that include metastatic castration-resistant prostate cancer and hospitalized patients with severe COVID-19.