Insider Buying: Veru Inc. (NASDAQ:VERU) Director Acquires 95,279 Shares of Stock

Veru Inc. (NASDAQ:VERU) Director Michael L. Rankowitz purchased 95,279 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $0.55 per share, for a total transaction of $52,403.45. Following the completion of the acquisition, the director now owns 195,279 shares of the company’s stock, valued at $107,403.45. The trade was a 95.28 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Veru Stock Performance

Shares of Veru stock opened at $0.57 on Friday. Veru Inc. has a fifty-two week low of $0.47 and a fifty-two week high of $1.92. The company has a market cap of $83.83 million, a P/E ratio of -2.20 and a beta of -0.54. The firm has a 50-day simple moving average of $0.70 and a two-hundred day simple moving average of $0.75.

Veru (NASDAQ:VERU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Veru had a negative return on equity of 112.75% and a negative net margin of 223.85%. Equities research analysts forecast that Veru Inc. will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VERU. MPM Bioimpact LLC acquired a new position in Veru during the fourth quarter worth $2,788,000. Geode Capital Management LLC increased its stake in shares of Veru by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,997,751 shares of the company’s stock worth $1,950,000 after purchasing an additional 57,611 shares in the last quarter. State Street Corp increased its stake in shares of Veru by 4.3% during the third quarter. State Street Corp now owns 2,072,065 shares of the company’s stock worth $1,593,000 after purchasing an additional 84,483 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Veru by 181.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,120,586 shares of the company’s stock worth $729,000 after purchasing an additional 722,644 shares during the last quarter. Finally, PVG Asset Management Corp lifted 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 valued at $681,000 after buying an additional 410,340 shares in the last quarter. Hedge funds and other institutional investors own 47.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VERU shares. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Veru in a report on Thursday, January 2nd. Oppenheimer reissued an “outperform” rating and issued a $5.00 price target on shares of Veru in a report on Tuesday, November 5th.

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.