Shell Asset Management Co. Cuts Stock Holdings in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Posted by MarketBeat News on Aug 3rd, 2022

Shell Asset Management Co. reduced its position in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA – Get Rating) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,688 shares of the biopharmaceutical company’s stock after selling 6,909 shares during the period. Shell Asset Management Co. owned approximately 0.08% of Vanda Pharmaceuticals worth $528,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VNDA. Goldman Sachs Group Inc. raised its holdings in Vanda Pharmaceuticals by 108.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,701,256 shares of the biopharmaceutical company’s stock worth $26,693,000 after purchasing an additional 885,431 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Vanda Pharmaceuticals by 194.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,330,712 shares of the biopharmaceutical company’s stock worth $15,050,000 after purchasing an additional 878,492 shares in the last quarter. Nuveen Asset Management LLC grew its position in Vanda Pharmaceuticals by 20.8% during the fourth quarter. Nuveen Asset Management LLC now owns 996,368 shares of the biopharmaceutical company’s stock worth $15,633,000 after buying an additional 171,565 shares during the period. Walleye Capital LLC acquired a new position in Vanda Pharmaceuticals during the fourth quarter worth about $1,702,000. Finally, Pacer Advisors Inc. grew its position in Vanda Pharmaceuticals by 101.5% during the first quarter. Pacer Advisors Inc. now owns 213,787 shares of the biopharmaceutical company’s stock worth $2,418,000 after buying an additional 107,664 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Vanda Pharmaceuticals Trading Down 1.0 %

Shares of VNDA opened at $10.43 on Wednesday. The firm’s 50-day moving average is $10.59 and its two-hundred day moving average is $11.41. Vanda Pharmaceuticals Inc. has a twelve month low of $9.24 and a twelve month high of $21.44. The firm has a market capitalization of $589.19 million, a P/E ratio of 32.59 and a beta of 0.47.

Vanda Pharmaceuticals (NASDAQ:VNDA – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.10). The business had revenue of $60.19 million during the quarter, compared to analyst estimates of $58.00 million. Vanda Pharmaceuticals had a net margin of 6.79% and a return on equity of 3.65%. During the same quarter in the prior year, the company earned $0.15 earnings per share. Analysts predict that Vanda Pharmaceuticals Inc. will post 0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Vanda Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 3rd.

Insider Activity

In other news, Director Stephen Ray Mitchell sold 2,700 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $9.48, for a total value of $25,596.00. Following the sale, the director now directly owns 6,515 shares in the company, valued at $61,762.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Richard W. Dugan sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $9.85, for a total transaction of $64,025.00. Following the sale, the director now owns 68,387 shares in the company, valued at $673,611.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Ray Mitchell sold 2,700 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $9.48, for a total transaction of $25,596.00. Following the sale, the director now owns 6,515 shares in the company, valued at approximately $61,762.20. The disclosure for this sale can be found here. Insiders have sold 11,439 shares of company stock worth $114,183 over the last ninety days. 6.10% of the stock is currently owned by insiders.

About Vanda Pharmaceuticals

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Vanda Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs. The company's marketed products include HETLIOZ for the treatment of non-24-hour sleep-wake disorders; and Fanapt oral tablets for the treatment of schizophrenia.