Millennium Management LLC Purchases 269,183 Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Millennium Management LLC boosted its holdings in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Free Report) by 67.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,693 shares of the biopharmaceutical company's stock after buying an additional 269,183 shares during the period. Millennium Management LLC owned approximately 1.15% of Vanda Pharmaceuticals worth $3,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Vanda Pharmaceuticals by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,488,519 shares of the biopharmaceutical company's stock valued at $11,920,000 after buying an additional 227,428 shares in the last quarter. Geode Capital Management LLC grew its stake in Vanda Pharmaceuticals by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,450,310 shares of the biopharmaceutical company's stock valued at $6,949,000 after buying an additional 24,483 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Vanda Pharmaceuticals by 4.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,382 shares of the biopharmaceutical company's stock valued at $3,925,000 after buying an additional 38,449 shares in the last quarter. Federated Hermes Inc. grew its stake in Vanda Pharmaceuticals by 1.4% in the 4th quarter. Federated Hermes Inc. now owns 726,619 shares of the biopharmaceutical company's stock valued at $3,481,000 after buying an additional 9,840 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Vanda Pharmaceuticals by 1.3% in the 4th quarter. Northern Trust Corp now owns 507,442 shares of the biopharmaceutical company's stock valued at $2,431,000 after buying an additional 6,283 shares in the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VNDA. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price target on shares of Vanda Pharmaceuticals in a research report on Wednesday, May 14th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Vanda Pharmaceuticals in a research report on Wednesday, May 7th. Finally, Wall Street Zen began coverage on shares of Vanda Pharmaceuticals in a research report on Wednesday, February 5th. They set a "hold" rating for the company.

Vanda Pharmaceuticals Stock Up 1.1%

NASDAQ:VNDA traded up $0.05 during midday trading on Wednesday, hitting $4.44. The company had a trading volume of 352,515 shares, compared to its average volume of 704,607. Vanda Pharmaceuticals Inc. has a 52-week low of $3.81 and a 52-week high of $6.75. The stock's fifty day moving average price is $4.30 and its 200-day moving average price is $4.57. The company has a market capitalization of $261.67 million, a PE ratio of -13.88 and a beta of 0.69.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.05. Vanda Pharmaceuticals had a negative net margin of 9.51% and a negative return on equity of 3.49%. The company had revenue of $50.04 million during the quarter, compared to analyst estimates of $45.13 million. As a group, research analysts forecast that Vanda Pharmaceuticals Inc. will post -1.12 earnings per share for the current year.

Insider Buying and Selling at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, CEO Mihael Hristos Polymeropoulos purchased 10,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $44,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,731 shares in the company, valued at approximately $10,233,216.40. This represents a 0.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.00% of the company's stock.

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.