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 significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 4,590,000 shares, anincreaseof2,603.2% from the June 30th total of 169,800 shares. Approximately8.4% of the shares of the company are sold short. 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 shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $4.59, for a total transaction of $32,130.00. Following the sale, the director owned 97,082 shares in the company, valued at approximately $445,606.38. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mihael Hristos Polymeropoulos acquired 20,000 shares of Vanda Pharmaceuticals stock in a transaction dated Friday, May 16th. The shares were bought at an average price 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 approximately $9,772,384.82. The trade was a 0.87% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.90% of the company's stock.

Hedge Funds Weigh In On Vanda Pharmaceuticals

Several hedge funds have recently modified their holdings of VNDA. Millennium Management LLC lifted its position in shares of Vanda Pharmaceuticals by 220.0% during the 1st quarter. Millennium Management LLC now owns 2,139,591 shares of the biopharmaceutical company's stock valued at $9,821,000 after buying an additional 1,470,898 shares in the last quarter. Nuveen LLC purchased a new position in shares of Vanda Pharmaceuticals during the 1st quarter valued at approximately $2,022,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter valued at approximately $1,296,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Vanda Pharmaceuticals during the 4th quarter valued at approximately $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 in the last quarter. Institutional investors and hedge funds own 88.14% of the company's stock.

Vanda Pharmaceuticals Stock Performance

NASDAQ VNDA traded up $0.01 on Monday, hitting $4.20. 103,785 shares of the stock were exchanged, compared to its average volume of 574,410. The stock has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $4.54. The firm has a market capitalization of $247.88 million, a P/E ratio of -3.71 and a beta of 0.72. Vanda Pharmaceuticals has a 52-week low of $3.81 and a 52-week 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.12). The company had revenue of $52.59 million for the quarter, compared to analysts' expectations of $54.77 million. Vanda Pharmaceuticals had a negative net margin of 32.90% and a negative return on equity of 12.89%. Sell-side analysts expect that Vanda Pharmaceuticals will post -1.12 earnings per share for the current fiscal year.

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.