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

Veru Inc. (NASDAQ:VERU)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.64 and traded as low as $2.28. Veru shares last traded at $2.31, with a volume of 66,482 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on VERU. Wall Street Zen downgraded shares of Veru from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Veru in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Veru currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Veru Stock Down 5.3%

The business has a 50-day simple moving average of $2.40 and a 200-day simple moving average of $2.64. The stock has a market cap of $37.08 million, a P/E ratio of -1.83 and a beta of -1.35.

Veru (NASDAQ:VERU) last released its quarterly 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. On average, analysts predict that Veru Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Veru during the third quarter valued at about $38,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Veru in the third quarter valued at about $47,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Veru in the third quarter worth about $110,000. ADAR1 Capital Management LLC bought a new position in shares of Veru in the fourth quarter worth about $75,000. Finally, Blair William & Co. IL lifted its position in shares of Veru by 26.3% during the 4th quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock worth $103,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 47.16% of the company’s stock.

About Veru

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.