Veru (NASDAQ:VERU) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Veru Inc. (NASDAQ:VERU) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.90 and traded as low as $2.41. Veru shares last traded at $2.46, with a volume of 64,369 shares traded.

Wall Street Analysts Forecast Growth

VERU has been the subject of a number of analyst reports. Canaccord Genuity Group initiated coverage on Veru in a research report on Thursday, December 18th. They set a “buy” rating and a $25.00 price target on the stock. Wall Street Zen cut Veru from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veru in a research note on Wednesday, January 21st. Finally, Oppenheimer reiterated an “outperform” rating on shares of Veru in a research report on Thursday, December 18th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

Veru Stock Performance

The stock has a market capitalization of $40.61 million, a PE ratio of -2.01 and a beta of -1.50. The stock’s 50 day moving average is $2.47 and its two-hundred day moving average is $2.89.

Veru (NASDAQ:VERU) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.21. Equities research analysts expect that Veru Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VERU. PVG Asset Management Corp boosted its stake in Veru by 3.2% during the 2nd quarter. PVG Asset Management Corp now owns 1,647,365 shares of the company’s stock worth $958,000 after purchasing an additional 50,465 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Veru in the fourth quarter valued at about $2,140,000. Marshall Wace LLP purchased a new position in shares of Veru in the second quarter worth about $220,000. Sheets Smith Investment Management boosted its position in Veru by 1,341.9% during the third quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock worth $1,224,000 after acquiring an additional 299,746 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Veru by 11.5% during the 2nd quarter. Atria Investments Inc now owns 282,281 shares of the company’s stock valued at $164,000 after acquiring an additional 29,025 shares in the last quarter. 47.16% of the stock is owned by institutional investors and hedge funds.

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.