Veru (NASDAQ:VERU) Shares Pass Below 200-Day Moving Average – Here’s Why

Veru Inc. (NASDAQ:VERU) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.90 and traded as low as $2.41. Veru shares last traded at $2.46, with a volume of 64,369 shares trading hands.

Analyst Ratings Changes

VERU has been the topic of several analyst reports. Canaccord Genuity Group started coverage on Veru in a report on Thursday, December 18th. They issued a “buy” rating and a $25.00 price objective on the stock. Wall Street Zen lowered Veru from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veru in a research note on Wednesday, January 21st. Finally, Oppenheimer reiterated an “outperform” rating on shares of Veru in a research report on Thursday, December 18th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Veru Price Performance

The stock has a market capitalization of $39.48 million, a P/E ratio of -1.95 and a beta of -1.50. The firm’s 50 day moving average price is $2.46 and its 200 day moving average price is $2.90.

Veru (NASDAQ:VERU) last posted its earnings results on Wednesday, February 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.21. On average, equities research analysts forecast that Veru Inc. will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On Veru

Large investors have recently made changes to their positions in the business. Catalyst Funds Management Pty Ltd bought a new position in shares of Veru during the second quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Veru in the third quarter valued at $38,000. Allworth Financial LP purchased a new position in Veru during the 2nd quarter valued at $45,000. Cassaday & Co Wealth Management LLC bought a new position in Veru in the 3rd quarter worth $47,000. Finally, XTX Topco Ltd bought a new position in Veru in the 2nd quarter worth $49,000. 47.16% of the stock is currently owned by institutional investors.

About Veru

Veru Inc is a clinical-stage biopharmaceutical company headquartered in Miami, Florida. The company is dedicated to the development and commercialization of novel therapies in the fields of oncology and infectious disease. Veru’s research strategy centers on advancing small-molecule and biologic candidates through clinical trials, leveraging its in-house manufacturing and formulation capabilities as well as strategic partnerships to support late-stage development.

The company’s lead product candidate is sabizabulin (VERU-111), an oral, microtubule-disrupting agent undergoing pivotal trials for indications that include metastatic castration-resistant prostate cancer and hospitalized patients with severe COVID-19.