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

Key Points

• Short interest surged to 5,310,265 shares as of March 31, a 65.9% increase from March 15, representing about 10.0% of shares short and a 2.4 days-to-cover ratio.
• Vanda missed Q4 expectations (EPS -$2.39 vs. -$2.18 estimate) with revenue of $57.22M and deeply negative profitability (net margin -102.02%), and analysts forecast ~-1.12 EPS for the current year.
• The stock carries a consensus "Moderate Buy" with an average target of $14.90, while insiders sold 314,342 shares (~$2.58M) last quarter and currently own about 10% of the company.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 5,310,265 shares, an increase of 65.9% from the March 15th total of 3,200,424 shares. Based on an average daily volume of 2,225,454 shares, the days-to-cover ratio is currently 2.4 days. Approximately 10.0% of the shares of the company are short sold.

Vanda Pharmaceuticals Price Performance

NASDAQ VNDA opened at $7.22 on Monday. The stock's 50-day moving average price is $7.57 and its two-hundred day moving average price is $6.58. The company has a current ratio of 2.39, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01. The company has a market cap of $426.76 million, a PE ratio of -1.94 and a beta of 0.71. Vanda Pharmaceuticals has a 1 year low of $3.81 and a 1 year high of $9.94.

Vanda Pharmaceuticals (NASDAQ:VNDA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported ($2.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.18) by ($0.21). The company had revenue of $57.22 million for the quarter, compared to analyst estimates of $59.28 million. Vanda Pharmaceuticals had a negative return on equity of 23.85% and a negative net margin of 102.02%. On average, analysts predict that Vanda Pharmaceuticals will post -1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VNDA shares. B. Riley Financial boosted their price target on shares of Vanda Pharmaceuticals from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, December 31st. Wall Street Zen cut shares of Vanda Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. UBS Group reiterated a "buy" rating on shares of Vanda Pharmaceuticals in a research report on Monday, January 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Vanda Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Truist Financial started coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, March 5th. They issued a "buy" rating and a $18.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Vanda Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $14.90.

Insider Buying and Selling at Vanda Pharmaceuticals

In related news, SVP Gunther Birznieks sold 42,431 shares of Vanda Pharmaceuticals stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $350,904.37. Following the sale, the senior vice president directly owned 494,197 shares in the company, valued at $4,087,009.19. The trade was a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Joakim Wijkstrom sold 30,800 shares of Vanda Pharmaceuticals stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $8.27, for a total transaction of $254,716.00. Following the sale, the chief marketing officer owned 333,469 shares in the company, valued at approximately $2,757,788.63. This represents a 8.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 314,342 shares of company stock valued at $2,583,985. 10.00% of the stock is currently owned by insiders.

Institutional Trading of Vanda Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its holdings in Vanda Pharmaceuticals by 96.5% during the 2nd quarter. Squarepoint Ops LLC now owns 153,345 shares of the biopharmaceutical company's stock worth $724,000 after buying an additional 75,295 shares during the period. Boothbay Fund Management LLC purchased a new position in Vanda Pharmaceuticals during the 3rd quarter valued at about $72,000. Cerity Partners LLC purchased a new position in Vanda Pharmaceuticals during the 2nd quarter valued at about $69,000. Caitong International Asset Management Co. Ltd grew its stake in Vanda Pharmaceuticals by 8,629.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 29,158 shares of the biopharmaceutical company's stock valued at $257,000 after acquiring an additional 28,824 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Vanda Pharmaceuticals during the 4th quarter valued at about $234,000. Institutional investors and hedge funds own 88.14% of the company's stock.

Vanda Pharmaceuticals Company Profile

Vanda Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders and rare diseases. The company's research and development efforts center on sleep-wake regulation, mood disorders, and movement disorders. Vanda's mission is to address unmet medical needs by advancing novel molecules through clinical trials and regulatory review.

Vanda's flagship commercial product is Hetlioz (tasimelteon), a melatonin receptor agonist approved by the U.S.

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