Veru (NASDAQ:VERU) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Veru Inc. (NASDAQ:VERU) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.86 and traded as low as $2.37. Veru shares last traded at $2.41, with a volume of 33,983 shares.

Analyst Upgrades and Downgrades

VERU has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veru in a report on Wednesday, January 21st. Oppenheimer reissued an “outperform” rating on shares of Veru in a research note on Thursday, December 18th. Canaccord Genuity Group initiated coverage on Veru in a research report on Thursday, December 18th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Wall Street Zen lowered Veru from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Veru Price Performance

The stock has a 50-day moving average price of $2.48 and a 200-day moving average price of $2.86. The firm has a market capitalization of $38.68 million, a PE ratio of -1.91 and a beta of -1.50.

Veru (NASDAQ:VERU) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.21. As a group, equities research analysts predict that Veru Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Veru

Several institutional investors have recently added to or reduced their stakes in VERU. PVG Asset Management Corp boosted its stake in Veru by 3.2% during the 2nd quarter. PVG Asset Management Corp now owns 1,647,365 shares of the company’s stock valued at $958,000 after acquiring an additional 50,465 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Veru in the 4th quarter worth about $2,140,000. Marshall Wace LLP acquired a new stake in shares of Veru in the 2nd quarter valued at about $220,000. Sheets Smith Investment Management raised its stake in shares of Veru by 1,341.9% in the 3rd quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock valued at $1,224,000 after purchasing an additional 299,746 shares in the last quarter. Finally, 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 during the last quarter. 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.