Short Interest in Veru Inc. (NASDAQ:VERU) Declines By 88.9%

Veru Inc. (NASDAQ:VERU) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 1,240,000 shares, adeclineof88.9% from the July 15th total of 11,210,000 shares. Currently,10.0% of the shares of the company are sold short. Based on an average daily trading volume, of 264,500 shares, the short-interest ratio is presently 4.7 days. Based on an average daily trading volume, of 264,500 shares, the short-interest ratio is presently 4.7 days. Currently,10.0% of the shares of the company are sold short.

Veru Stock Performance

Shares of NASDAQ:VERU opened at $3.59 on Friday. The company has a market capitalization of $52.63 million, a PE ratio of -1.63 and a beta of -0.72. The stock has a fifty day moving average of $5.50 and a 200-day moving average of $5.41. Veru has a one year low of $2.64 and a one year high of $14.20.

Veru (NASDAQ:VERU) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.05. As a group, research analysts forecast that Veru will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Veru

Several institutional investors and hedge funds have recently bought and sold shares of the business. MPM Bioimpact LLC increased its position in Veru by 53.8% in the 1st quarter. MPM Bioimpact LLC now owns 6,592,727 shares of the company’s stock worth $3,231,000 after purchasing an additional 2,307,362 shares during the last quarter. Geode Capital Management LLC increased its holdings in Veru by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,997,751 shares of the company’s stock worth $1,950,000 after buying an additional 57,611 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Veru by 17.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,423,288 shares of the company’s stock valued at $698,000 after acquiring an additional 206,614 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Veru by 18.3% during the first quarter. Oppenheimer & Co. Inc. now owns 1,325,246 shares of the company’s stock valued at $650,000 after acquiring an additional 204,660 shares in the last quarter. Finally, PVG Asset Management Corp lifted its stake in Veru by 64.4% in the fourth quarter. PVG Asset Management Corp now owns 1,047,310 shares of the company’s stock valued at $681,000 after acquiring an additional 410,340 shares during the last quarter. Hedge funds and other institutional investors own 47.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James Financial reduced their price target on shares of Veru from $30.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday.

About Veru

Veru Inc, a late clinical stage biopharmaceutical company, focuses on developing medicines for treatment of metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS). Its marketed products comprise FC2 female condom for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.