Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Sees Significant Growth in Short Interest

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,980,000 shares, a growth of 17.1% from the September 30th total of 3,400,000 shares. Currently, 7.2% of the company's shares are sold short. Based on an average daily volume of 596,200 shares, the days-to-cover ratio is currently 6.7 days.

Wall Street Analyst Weigh In

VNDA has been the subject of a number of research analyst reports. StockNews.com began coverage on shares of Vanda Pharmaceuticals in a report on Thursday. They set a "hold" rating for the company. Cantor Fitzgerald boosted their price target on Vanda Pharmaceuticals from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, August 1st.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in shares of Vanda Pharmaceuticals by 4.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,370,335 shares of the biopharmaceutical company's stock worth $9,740,000 after acquiring an additional 107,203 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Vanda Pharmaceuticals by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company's stock valued at $11,379,000 after purchasing an additional 292,172 shares during the last quarter. Nantahala Capital Management LLC raised its holdings in Vanda Pharmaceuticals by 57.3% in the second quarter. Nantahala Capital Management LLC now owns 1,593,516 shares of the biopharmaceutical company's stock worth $9,003,000 after purchasing an additional 580,265 shares in the last quarter. Profit Investment Management LLC lifted its position in shares of Vanda Pharmaceuticals by 159.3% during the second quarter. Profit Investment Management LLC now owns 571,324 shares of the biopharmaceutical company's stock valued at $3,228,000 after buying an additional 351,000 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Vanda Pharmaceuticals by 39.6% during the first quarter. Sei Investments Co. now owns 518,851 shares of the biopharmaceutical company's stock valued at $2,132,000 after buying an additional 147,066 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company's stock.

Vanda Pharmaceuticals Stock Up 5.1 %

Shares of VNDA stock traded up $0.23 on Monday, hitting $4.78. The stock had a trading volume of 337,917 shares, compared to its average volume of 1,337,125. Vanda Pharmaceuticals has a one year low of $3.30 and a one year high of $6.75. The business has a 50 day moving average price of $4.90 and a 200 day moving average price of $5.23. The company has a market cap of $278.63 million, a PE ratio of -24.53 and a beta of 0.77.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter. Vanda Pharmaceuticals had a negative net margin of 6.00% and a negative return on equity of 2.01%. The business had revenue of $50.47 million during the quarter. Equities research analysts expect that Vanda Pharmaceuticals will post -0.49 EPS for the current year.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products include HETLIOZ to treat non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.