Veru (NASDAQ:VERU) Shares Cross Below 200 Day Moving Average – Here’s Why

Veru Inc. (NASDAQ:VERU)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.81 and traded as low as $2.19. Veru shares last traded at $2.23, with a volume of 47,526 shares traded.

Wall Street Analyst Weigh In

VERU has been the subject of a number of research reports. Canaccord Genuity Group assumed coverage on shares of Veru in a research note on Thursday, December 18th. They issued a “buy” rating and a $25.00 price objective for the company. Wall Street Zen cut Veru from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Veru in a report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Veru in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Veru Stock Performance

The stock has a market cap of $35.79 million, a PE ratio of -1.77 and a beta of -1.50. The firm’s 50-day moving average is $2.47 and its 200 day moving average is $2.81.

Veru (NASDAQ:VERU) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.21. On average, sell-side analysts predict that Veru Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Veru

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Veru during the 3rd quarter valued at approximately $38,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Veru in the 3rd quarter valued at approximately $47,000. XTX Topco Ltd acquired a new position in shares of Veru in the second quarter valued at approximately $49,000. ADAR1 Capital Management LLC acquired a new position in shares of Veru in the fourth quarter valued at approximately $75,000. Finally, Blair William & Co. IL raised its stake in shares of Veru by 26.3% during the fourth 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.