StockNews.com Begins Coverage on Vanda Pharmaceuticals (NASDAQ:VNDA)

StockNews.com initiated coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a report published on Monday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Vanda Pharmaceuticals in a report on Monday, December 23rd.

Vanda Pharmaceuticals Trading Down 3.5 %

Shares of Vanda Pharmaceuticals stock opened at $4.35 on Monday. The company has a fifty day simple moving average of $4.79 and a 200-day simple moving average of $5.02. Vanda Pharmaceuticals has a 12-month low of $3.46 and a 12-month high of $6.75. The stock has a market cap of $253.65 million, a price-to-earnings ratio of -15.54 and a beta of 0.77.

Insiders Place Their Bets

In other news, Director Stephen Ray Mitchell sold 5,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.17, for a total transaction of $25,850.00. Following the transaction, the director now directly owns 44,857 shares of the company’s stock, valued at $231,910.69. This represents a 10.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $40,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 acquiring an additional 4,374 shares during the period. XTX Topco Ltd purchased a new position in shares of Vanda Pharmaceuticals during the 2nd quarter worth about $75,000. Intech Investment Management LLC purchased a new position in shares of Vanda Pharmaceuticals during the 3rd quarter worth about $84,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Vanda Pharmaceuticals by 88.5% during the 3rd quarter. SG Americas Securities LLC now owns 20,402 shares of the biopharmaceutical company’s stock worth $96,000 after acquiring an additional 9,580 shares during the period. 88.14% of the stock is owned by institutional investors and hedge funds.

About Vanda Pharmaceuticals

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.