Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Short Interest Up 25.3% in February

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 4,346,005 shares, a growth of 25.3% from the February 12th total of 3,469,008 shares. Currently, 8.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,341,392 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 6,341,392 shares, the short-interest ratio is currently 0.7 days. Currently, 8.1% of the shares of the stock are sold short.

Insider Activity at Vanda Pharmaceuticals

In related news, SVP Gunther Birznieks sold 42,431 shares of Vanda Pharmaceuticals stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total value of $350,904.37. Following the transaction, the senior vice president directly owned 494,197 shares in the company, valued at $4,087,009.19. The trade was a 7.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Patrick Moran sold 42,442 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.27, for a total value of $350,995.34. Following the sale, the chief financial officer directly owned 411,380 shares in the company, valued at $3,402,112.60. This trade represents a 9.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 314,342 shares of company stock worth $2,583,985. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of VNDA. Stonepine Capital Management LLC boosted its position in Vanda Pharmaceuticals by 611.3% during the second quarter. Stonepine Capital Management LLC now owns 250,000 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 214,852 shares during the last quarter. Squarepoint Ops LLC grew its stake in Vanda Pharmaceuticals by 96.5% in the second quarter. Squarepoint Ops LLC now owns 153,345 shares of the biopharmaceutical company’s stock valued at $724,000 after purchasing an additional 75,295 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Vanda Pharmaceuticals by 17.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 44,696 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 6,765 shares during the last quarter. Quarry LP purchased a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $53,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Vanda Pharmaceuticals by 456.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,495 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 5,328 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Price Performance

Shares of VNDA opened at $8.81 on Monday. The business’s 50-day moving average is $7.71 and its 200-day moving average is $6.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.38. The company has a market capitalization of $520.76 million, a price-to-earnings ratio of -2.36 and a beta of 0.55. Vanda Pharmaceuticals has a fifty-two week low of $3.81 and a fifty-two week high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA) last posted its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) EPS for the quarter, missing the consensus estimate of ($2.18) by ($0.21). The company had revenue of $57.22 million for the quarter, compared to analyst estimates of $59.28 million. Vanda Pharmaceuticals had a negative return on equity of 23.85% and a negative net margin of 102.02%. Equities research analysts expect that Vanda Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VNDA. Cantor Fitzgerald reissued an “overweight” rating on shares of Vanda Pharmaceuticals in a research note on Wednesday, December 17th. Wall Street Zen cut shares of Vanda Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. UBS Group reissued a “buy” rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Vanda Pharmaceuticals in a report on Wednesday, January 21st. Finally, Truist Financial started coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, March 5th. They issued a “buy” rating and a $18.00 price target for the company. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Vanda Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $14.90.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company’s research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda’s mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda’s flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.