Veru (NASDAQ:VERU) Stock Passes Below 200 Day Moving Average – Should You Sell?

Veru Inc. (NASDAQ:VERU) shares passed 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 traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VERU. Canaccord Genuity Group began coverage on Veru in a research report on Thursday, December 18th. They issued a “buy” rating and a $25.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Veru in a research report on Wednesday, January 21st. Wall Street Zen lowered Veru from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Oppenheimer reissued an “outperform” rating on shares of Veru in a research report on Thursday, December 18th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Veru presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Veru Trading Up 0.4%

The firm has a market capitalization of $39.00 million, a P/E ratio of -1.93 and a beta of -1.35. The business has a 50-day moving average of $2.39 and a 200 day moving average of $2.69.

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

Hedge Funds Weigh In On Veru

Hedge funds have recently added to or reduced their stakes in the stock. Sheets Smith Investment Management boosted its stake in Veru by 1,341.9% during 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 during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Veru during the 3rd quarter valued at about $47,000. GSA Capital Partners LLP acquired a new position in Veru during the 3rd quarter valued at about $616,000. Northwestern Mutual Wealth Management Co. acquired a new position in Veru during the 3rd quarter valued at about $38,000. Finally, Raymond James Financial Inc. boosted its stake in Veru by 48.3% during the 2nd quarter. Raymond James Financial Inc. now owns 206,405 shares of the company’s stock valued at $120,000 after purchasing an additional 67,178 shares during the last quarter. Institutional investors and hedge funds own 47.16% of the company’s stock.

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.