Veru Inc (NASDAQ:VERU) Sees Significant Increase in Short Interest

Veru Inc (NASDAQ:VERU) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 80,600 shares, an increase of 75.6% from the May 30th total of 45,900 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 197,700 shares, the short-interest ratio is presently 0.4 days.

In other Veru news, insider Mitchell Shuster Steiner sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $1.98, for a total transaction of $39,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock worth $113,200. Corporate insiders own 29.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Veru in the 1st quarter valued at approximately $95,000. BlackRock Inc. grew its stake in shares of Veru by 9.3% in the 4th quarter. BlackRock Inc. now owns 128,766 shares of the company’s stock valued at $180,000 after buying an additional 10,956 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Veru by 115.4% in the 4th quarter. Geode Capital Management LLC now owns 215,601 shares of the company’s stock valued at $301,000 after buying an additional 115,506 shares in the last quarter. 8.85% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on VERU shares. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Oppenheimer set a $13.00 target price on Alpine Immune Sciences and gave the company a “buy” rating in a research note on Tuesday, March 19th. ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Cantor Fitzgerald started coverage on Veru in a research note on Monday, July 1st. They set an “overweight” rating and a $6.00 target price on the stock. Finally, CIBC started coverage on Veru in a research note on Wednesday, March 20th. They set an “outperform” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Veru has an average rating of “Buy” and an average price target of $4.67.

NASDAQ:VERU traded up $0.04 on Thursday, hitting $2.36. 1,098,560 shares of the company’s stock traded hands, compared to its average volume of 173,045. The firm has a market capitalization of $144.42 million, a P/E ratio of -6.05 and a beta of 0.46. The firm’s 50-day simple moving average is $2.04. Veru has a 1 year low of $1.18 and a 1 year high of $2.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.99 and a current ratio of 1.25.

Veru (NASDAQ:VERU) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $6.98 million during the quarter, compared to the consensus estimate of $6.98 million. Veru had a negative net margin of 91.61% and a negative return on equity of 64.91%. Analysts predict that Veru will post -0.17 earnings per share for the current fiscal year.

About Veru

Veru Inc operates as an oncology and urology biopharmaceutical company. The company operates through two segments, Commercial, and Research and Development. It offers FC2 Female Condom for unintended pregnancy and sexually transmitted infections, including HIV/AIDS and the Zika virus; and PREBOOST benzocaine medicated individual wipes for the prevention of premature ejaculation.

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