Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Short Interest Update

Key Points

• Vanda Pharmaceuticals Inc. experienced a dramatic increase in short interest of 2,603.2% in July, with total short interest rising from 169,800 to 4,590,000 shares.
• The company's stock is currently priced at $4.20, reflecting a negative earnings report with an EPS of ($0.46) that missed analyst estimates.
• Institutional investors hold 88.14% of Vanda Pharmaceuticals' stock, with notable increases in positions from various hedge funds during the second quarter.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 4,590,000 shares, agrowthof2,603.2% from the June 30th total of 169,800 shares. Approximately8.4% of the company's shares are short sold. Based on an average daily trading volume, of 461,800 shares, the days-to-cover ratio is presently 9.9 days. Based on an average daily trading volume, of 461,800 shares, the days-to-cover ratio is presently 9.9 days. Approximately8.4% of the company's shares are short sold.

Analyst Ratings Changes

A number of research firms recently weighed in on VNDA. Cantor Fitzgerald restated an "overweight" rating and issued a $13.00 price target on shares of Vanda Pharmaceuticals in a research note on Wednesday, May 14th. Wall Street Zen cut Vanda Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research report on Saturday. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Vanda Pharmaceuticals in a research report on Wednesday, May 7th.

Vanda Pharmaceuticals Trading Down 1.1%

NASDAQ:VNDA traded down $0.05 on Tuesday, reaching $4.22. 160,292 shares of the stock traded hands, compared to its average volume of 574,994. The firm has a market capitalization of $248.41 million, a price-to-earnings ratio of -3.74 and a beta of 0.72. The company's 50 day moving average is $4.64 and its 200-day moving average is $4.54. Vanda Pharmaceuticals has a 1-year low of $3.81 and a 1-year high of $5.55.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.12). The business had revenue of $52.59 million during the quarter, compared to the consensus estimate of $54.77 million. Vanda Pharmaceuticals had a negative return on equity of 12.89% and a negative net margin of 32.90%. On average, equities research analysts forecast that Vanda Pharmaceuticals will post -1.12 EPS for the current fiscal year.

Insider Activity

In other Vanda Pharmaceuticals news, CEO Mihael Hristos Polymeropoulos acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $4.22 per share, for a total transaction of $84,400.00. Following the transaction, the chief executive officer owned 2,315,731 shares of the company's stock, valued at $9,772,384.82. This trade represents a 0.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Ray Mitchell sold 7,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $4.59, for a total value of $32,130.00. Following the transaction, the director directly owned 97,082 shares of the company's stock, valued at approximately $445,606.38. This trade represents a 6.73% decrease in their position. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Vanda Pharmaceuticals by 220.0% in the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company's stock worth $9,821,000 after buying an additional 1,470,898 shares during the last quarter. Nuveen LLC purchased a new position in shares of Vanda Pharmaceuticals during the 1st quarter valued at $2,022,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter valued at $1,296,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter valued at $1,221,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Vanda Pharmaceuticals by 10.1% during 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 during the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.

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.