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

StockNews.com assumed coverage on shares of Vanda Pharmaceuticals (NASDAQ:VNDA) in a research report released on Sunday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Vanda Pharmaceuticals in a research note on Monday, December 23rd.

Vanda Pharmaceuticals Stock Performance

VNDA opened at $4.60 on Friday. Vanda Pharmaceuticals has a 52-week low of $3.46 and a 52-week high of $6.75. The firm has a market cap of $268.22 million, a P/E ratio of -16.43 and a beta of 0.77. The business’s fifty day moving average is $4.88 and its 200-day moving average is $5.07.

Insider Buying and Selling at Vanda Pharmaceuticals

In other Vanda Pharmaceuticals news, Director Stephen Ray Mitchell sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the completion of the transaction, the director now owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. The trade was a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Vanda Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Vanda Pharmaceuticals by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 257,995 shares of the biopharmaceutical company’s stock valued at $1,458,000 after buying an additional 20,721 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Vanda Pharmaceuticals by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 269,971 shares of the biopharmaceutical company’s stock valued at $1,525,000 after acquiring an additional 18,733 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Vanda Pharmaceuticals during the 2nd quarter valued at $39,000. Dimensional Fund Advisors LP grew its position in Vanda Pharmaceuticals by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,013,807 shares of the biopharmaceutical company’s stock worth $11,379,000 after acquiring an additional 292,172 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Vanda Pharmaceuticals in the 2nd quarter worth about $75,000. 88.14% of the stock is currently 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.