VIVUS, Inc. (VVUS) Sees Large Drop in Short Interest
VIVUS, Inc. (NASDAQ:VVUS) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 5,103,560 shares, a decline of 28.0% from the August 15th total of 7,085,696 shares. Based on an average daily volume of 1,100,513 shares, the short-interest ratio is presently 4.6 days. Approximately 5.1% of the shares of the stock are sold short.
A number of large investors have recently made changes to their positions in VVUS. Spark Investment Management LLC bought a new stake in VIVUS during the 2nd quarter worth about $100,000. Nine Chapters Capital Management LLC bought a new stake in VIVUS during the 1st quarter worth about $113,000. Bank of New York Mellon Corp raised its holdings in VIVUS by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 106,842 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 3,694 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in VIVUS by 84.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 148,600 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 68,200 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in VIVUS by 16.8% during the 2nd quarter. Northern Trust Corp now owns 275,097 shares of the biopharmaceutical company’s stock worth $335,000 after purchasing an additional 39,473 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on VVUS. Zacks Investment Research cut shares of VIVUS from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine cut shares of VIVUS from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
VIVUS (NASDAQ VVUS) opened at 0.99 on Friday. The firm has a market capitalization of $104.44 million, a PE ratio of 3.18 and a beta of 0.88. VIVUS has a one year low of $0.86 and a one year high of $1.47. The firm has a 50 day moving average of $0.99 and a 200 day moving average of $1.09.
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VIVUS, Inc is a biopharmaceutical company. The Company operates in the development and commercialization of therapeutic products segment. It provides over two therapies approved by the Food and Drug Association (FDA), which include Qsymia (phentermine and topiramate extended-release) for chronic weight management and STENDRA (avanafil) for erectile dysfunction (ED).
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