Veru (NASDAQ:VERU) Stock Passes Below 200 Day Moving Average – Should You Sell?

Veru Inc. (NASDAQ:VERU) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.50 and traded as low as $2.50. Veru shares last traded at $2.59, with a volume of 101,312 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VERU. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Veru in a research note on Thursday, June 4th. Oppenheimer lowered their price target on shares of Veru from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Wall Street Zen lowered shares of Veru from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veru currently has an average rating of “Hold” and an average target price of $24.50.

Veru Trading Up 2.6%

The firm has a 50 day moving average of $2.63 and a 200-day moving average of $2.51. The company has a market cap of $47.40 million, a P/E ratio of -4.03 and a beta of -1.15.

Veru (NASDAQ:VERU) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.02. Equities analysts predict that Veru Inc. will post -1.07 EPS for the current fiscal year.

Institutional Trading of Veru

Several hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new position in shares of Veru during the fourth quarter valued at about $2,140,000. Marshall Wace LLP purchased a new stake in shares of Veru in the second quarter worth about $220,000. Osaic Holdings Inc. boosted its stake in Veru by 11.9% during the second quarter. Osaic Holdings Inc. now owns 262,820 shares of the company’s stock valued at $152,000 after buying an additional 27,954 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Veru during the 2nd quarter valued at approximately $152,000. Finally, Sender Co & Partners Inc. grew its holdings in Veru by 82.8% during the 2nd quarter. Sender Co & Partners Inc. now owns 238,231 shares of the company’s stock valued at $139,000 after buying an additional 107,911 shares in the last quarter. Hedge funds and other institutional investors own 47.16% of the company’s stock.

About Veru

Veru Inc is a clinical-stage biopharmaceutical company headquartered in Miami, Florida. The company is dedicated to the development and commercialization of novel therapies in the fields of oncology and infectious disease. Veru’s research strategy centers on advancing small-molecule and biologic candidates through clinical trials, leveraging its in-house manufacturing and formulation capabilities as well as strategic partnerships to support late-stage development.

The company’s lead product candidate is sabizabulin (VERU-111), an oral, microtubule-disrupting agent undergoing pivotal trials for indications that include metastatic castration-resistant prostate cancer and hospitalized patients with severe COVID-19.