Veru (NASDAQ:VERU) Sets New 52-Week Low - What's Next?

Key Points

• Veru Inc. (NASDAQ:VERU) shares fell to a new 52-week low, reaching $3.33 before closing at $3.49, reflecting a decline of **3.7%**.
• The company reported earnings per share (EPS) of **($0.50)** for the last quarter, surpassing the consensus estimate by **$0.10**.
• Significant institutional interest was noted, with firms like Weaver Consulting Group and Wells Fargo increasing their stakes by over **27%** and **37%** respectively.

Veru Inc. (NASDAQ:VERU - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $3.33 and last traded at $3.49, with a volume of 227729 shares changing hands. The stock had previously closed at $3.73.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial cut their price target on Veru from $30.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday.

Veru Stock Down 3.2%

The company has a market capitalization of $52.63 million, a P/E ratio of -1.63 and a beta of -0.72. The company's fifty day moving average price is $5.50 and its 200 day moving average price is $5.41.

Veru (NASDAQ:VERU - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.05. Research analysts predict that Veru Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Veru

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Veru by 337.4% during the fourth quarter. JPMorgan Chase & Co. now owns 255,782 shares of the company's stock valued at $166,000 after buying an additional 197,307 shares during the last quarter. Geode Capital Management LLC raised its position in Veru by 2.0% during the 4th 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 in the last quarter. Wells Fargo & Company MN raised its holdings in Veru by 37.1% in the fourth 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. Envestnet Asset Management Inc. increased its position in shares of Veru by 23.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 406,755 shares of the company's stock worth $265,000 after purchasing an additional 75,997 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Veru by 11.8% during the fourth quarter. Barclays PLC now owns 206,515 shares of the company's stock valued at $134,000 after acquiring an additional 21,738 shares in the last quarter. Hedge funds and other institutional investors own 47.16% of the company's stock.

Veru Company 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.