Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Short Interest Up 17.1% in October

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 3,980,000 shares, an increase of 17.1% from the September 30th total of 3,400,000 shares. Currently, 7.2% of the company’s stock are short sold. Based on an average daily volume of 596,200 shares, the short-interest ratio is presently 6.7 days.

Vanda Pharmaceuticals Price Performance

Shares of VNDA traded up $0.11 during midday trading on Monday, reaching $4.66. 98,250 shares of the stock were exchanged, compared to its average volume of 1,335,972. The company has a market capitalization of $271.63 million, a price-to-earnings ratio of -24.53 and a beta of 0.77. Vanda Pharmaceuticals has a twelve month low of $3.30 and a twelve month high of $6.75. The business’s 50-day moving average price is $4.90 and its 200 day moving average price is $5.23.

Vanda Pharmaceuticals (NASDAQ:VNDA) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.08) earnings per share for the quarter. The business had revenue of $50.47 million for the quarter. Vanda Pharmaceuticals had a negative return on equity of 2.01% and a negative net margin of 6.00%. As a group, equities research analysts expect that Vanda Pharmaceuticals will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VNDA. Price T Rowe Associates Inc. MD increased its stake in Vanda Pharmaceuticals by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,824 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 2,425 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Vanda Pharmaceuticals by 4.3% in the second quarter. Panagora Asset Management Inc. now owns 60,434 shares of the biopharmaceutical company’s stock valued at $341,000 after buying an additional 2,509 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Vanda Pharmaceuticals by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 4,374 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in Vanda Pharmaceuticals by 2.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 287,677 shares of the biopharmaceutical company’s stock worth $1,625,000 after buying an additional 5,994 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Vanda Pharmaceuticals in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on VNDA. Cantor Fitzgerald lifted their price objective on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. StockNews.com began coverage on Vanda Pharmaceuticals in a report on Thursday. They set a “hold” rating for the company.

Vanda Pharmaceuticals Company Profile

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.