HC Wainwright reiterated their buy rating on shares of Vanda Pharmaceuticals (NASDAQ:VNDA - Free Report) in a report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $18.00 price objective on the biopharmaceutical company's stock.
Separately, StockNews.com initiated coverage on Vanda Pharmaceuticals in a research note on Tuesday. They issued a "hold" rating on the stock.
Get Our Latest Stock Analysis on Vanda Pharmaceuticals
Vanda Pharmaceuticals Price Performance
Vanda Pharmaceuticals stock traded down $0.01 during mid-day trading on Tuesday, hitting $4.44. The company's stock had a trading volume of 552,654 shares, compared to its average volume of 593,829. The business has a 50 day moving average price of $4.74 and a 200-day moving average price of $5.00. Vanda Pharmaceuticals has a 12 month low of $3.46 and a 12 month high of $6.75. The stock has a market cap of $258.90 million, a price-to-earnings ratio of -15.86 and a beta of 0.77.
Insider Buying and Selling at Vanda Pharmaceuticals
In related news, Director Stephen Ray Mitchell sold 5,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the transaction, the director now directly owns 44,857 shares of the company's stock, valued at $231,910.69. This represents a 10.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Vanda Pharmaceuticals during the third quarter worth about $40,000. China Universal Asset Management Co. Ltd. increased its holdings in Vanda Pharmaceuticals by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company's stock worth $53,000 after buying an additional 4,374 shares in the last quarter. XTX Topco Ltd bought a new position in Vanda Pharmaceuticals during the 2nd quarter valued at about $75,000. Intech Investment Management LLC purchased a new stake in shares of Vanda Pharmaceuticals during the 3rd quarter valued at about $84,000. Finally, SG Americas Securities LLC boosted its holdings in Vanda Pharmaceuticals by 88.5% in the third quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company's stock worth $96,000 after purchasing an additional 9,580 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company's stock.
About Vanda Pharmaceuticals
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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.
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