Veru (NASDAQ:VERU) Shares to Reverse Split on Monday, August 11th

Key Points

• Veru Inc. is set to conduct a 1-10 reverse stock split on Monday, August 11th, as announced on August 6th, with adjustments made after market close on August 8th.
• The stock currently trades at $0.37, reflecting a 18.7% decline, and the company has a market capitalization of $53.57 million with a PE ratio of -1.52.
• Institutional investors have recently increased their stakes in Veru, with Weaver Consulting Group growing its position by 27.4% in the first quarter.

Veru Inc. (NASDAQ:VERU - Free Report)'s stock is going to reverse split on the morning of Monday, August 11th. The 1-10 reverse split was announced on Wednesday, August 6th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 8th.

Veru Stock Down 0.1%

VERU traded down $0.00 during trading on Friday, reaching $0.37. 2,272,636 shares of the company were exchanged, compared to its average volume of 1,481,745. The company's 50-day moving average is $5.77 and its two-hundred day moving average is $5.58. Veru has a 12-month low of $0.36 and a 12-month high of $1.42. The company has a market cap of $54.63 million, a price-to-earnings ratio of -1.55 and a beta of -0.72.

Veru (NASDAQ:VERU - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.10. Equities analysts forecast that Veru will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Veru

Several institutional investors have recently modified their holdings of VERU. MPM Bioimpact LLC bought a new position in shares of Veru during the 4th quarter valued at about $2,788,000. PVG Asset Management Corp increased its stake in Veru by 64.4% in the 4th quarter. PVG Asset Management Corp now owns 1,047,310 shares of the company's stock worth $681,000 after purchasing an additional 410,340 shares during the period. Choreo LLC increased its stake in Veru by 67.4% in the 1st quarter. Choreo LLC now owns 669,277 shares of the company's stock worth $328,000 after purchasing an additional 269,500 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Veru by 17.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,423,288 shares of the company's stock worth $698,000 after purchasing an additional 206,614 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Veru by 18.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,325,246 shares of the company's stock worth $650,000 after purchasing an additional 204,660 shares during the period. 47.16% of the stock is currently owned by institutional investors.

About Veru

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.