Adage Capital Partners GP L.L.C. Has $1.50 Million Stake in Veru Inc. (NASDAQ:VERU)

Adage Capital Partners GP L.L.C. cut its stake in Veru Inc. (NASDAQ:VERU - Free Report) by 70.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,300,000 shares of the company's stock after selling 5,561,111 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.57% of Veru worth $1,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Veru by 2,500.0% in the fourth quarter. NewEdge Advisors LLC now owns 130,000 shares of the company's stock valued at $85,000 after buying an additional 125,000 shares during the period. Barclays PLC lifted its position in shares of Veru by 11.8% in the 4th quarter. Barclays PLC now owns 206,515 shares of the company's stock worth $134,000 after acquiring an additional 21,738 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Veru by 23.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 406,755 shares of the company's stock worth $265,000 after acquiring an additional 75,997 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Veru by 37.1% during the 4th quarter. Wells Fargo & Company MN now owns 75,512 shares of the company's stock worth $49,000 after purchasing an additional 20,430 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Veru by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,997,751 shares of the company's stock valued at $1,950,000 after purchasing an additional 57,611 shares during the period. 47.16% of the stock is currently owned by institutional investors and hedge funds.

Veru Trading Down 2.0 %

VERU stock traded down $0.01 during midday trading on Friday, hitting $0.51. The stock had a trading volume of 989,467 shares, compared to its average volume of 1,775,617. Veru Inc. has a 52 week low of $0.45 and a 52 week high of $1.75. The stock has a 50-day simple moving average of $0.53 and a 200 day simple moving average of $0.65. The firm has a market capitalization of $75.24 million, a price-to-earnings ratio of -1.98 and a beta of -0.69.

Veru (NASDAQ:VERU - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Veru had a negative net margin of 223.85% and a negative return on equity of 112.75%. On average, equities analysts forecast that Veru Inc. will post -0.22 EPS for the current year.

Insider Activity

In related news, Director Michael L. Rankowitz purchased 95,279 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $0.55 per share, for a total transaction of $52,403.45. Following the completion of the transaction, the director now directly owns 195,279 shares of the company's stock, valued at approximately $107,403.45. The trade was a 95.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 14.90% of the company's stock.

Veru Profile

Veru Inc, a late clinical stage biopharmaceutical company, focuses on developing medicines for treatment of metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS). Its marketed products comprise FC2 female condom for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.