Vanda Pharmaceuticals (NASDAQ:VNDA) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Free Report) in a report issued on Monday morning. The firm issued a hold rating on the biopharmaceutical company's stock.

Separately, HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Vanda Pharmaceuticals in a research report on Monday, December 23rd.

Vanda Pharmaceuticals Stock Down 1.8 %

Shares of VNDA traded down $0.08 on Monday, reaching $4.36. The stock had a trading volume of 330,149 shares, compared to its average volume of 448,007. The firm has a 50-day moving average of $4.83 and a 200 day moving average of $5.04. The firm has a market capitalization of $254.23 million, a PE ratio of -15.57 and a beta of 0.77. Vanda Pharmaceuticals has a twelve month low of $3.46 and a twelve month high of $6.75.

Insiders Place Their Bets

In other news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the sale, the director now owns 44,857 shares of the company's stock, valued at $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is owned by corporate insiders.

Institutional Trading of Vanda Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new position in shares of Vanda Pharmaceuticals during the 3rd quarter valued at about $40,000. China Universal Asset Management Co. Ltd. increased its position in Vanda Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 4,374 shares during the last quarter. XTX Topco Ltd purchased a new position in Vanda Pharmaceuticals during the second quarter worth approximately $75,000. Intech Investment Management LLC acquired a new position in shares of Vanda Pharmaceuticals in the 3rd quarter valued at $84,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Vanda Pharmaceuticals by 88.5% in the 3rd quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company's stock valued at $96,000 after purchasing an additional 9,580 shares during the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

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.