Veru Inc. (NASDAQ:VERU) Sees Significant Increase in Short Interest

Veru Inc. (NASDAQ:VERUGet Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 1,405,459 shares, a growth of 105.7% from the June 30th total of 683,403 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average daily volume of 344,909 shares, the days-to-cover ratio is presently 4.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Veru by 69.3% during the 1st quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock worth $27,000 after purchasing an additional 5,008 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Veru in the 3rd quarter valued at $38,000. XTX Topco Ltd acquired a new stake in Veru during the 2nd quarter worth approximately $49,000. ADAR1 Capital Management LLC bought a new stake in shares of Veru in the 4th quarter valued at about $75,000. Finally, Blair William & Co. IL increased its position in shares of Veru by 26.3% during the fourth quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock worth $103,000 after buying an additional 10,000 shares during the period. 47.16% of the stock is currently owned by institutional investors and hedge funds.

Veru Price Performance

VERU stock opened at $2.22 on Friday. Veru has a fifty-two week low of $2.05 and a fifty-two week high of $7.33. The stock has a market capitalization of $35.63 million, a PE ratio of -2.49 and a beta of -1.19. The company has a 50 day moving average price of $2.72 and a 200 day moving average price of $2.51.

Veru (NASDAQ:VERUGet Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.15. As a group, equities analysts expect that Veru will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VERU has been the subject of several analyst reports. Wall Street Zen raised Veru to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 21st. Oppenheimer reduced their price target on Veru from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Veru in a research note on Thursday, June 4th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Veru currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Get Our Latest Stock Report on Veru

About Veru

(Get Free Report)

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.

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