Insider Selling: Veru Inc. (NASDAQ:VERU) CEO Sells 63,379 Shares of Stock

Veru Inc. (NASDAQ:VERU) CEO Mitchell Shuster Steiner sold 63,379 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $1.23, for a total value of $77,956.17. Following the sale, the chief executive officer now owns 6,942,709 shares of the company’s stock, valued at approximately $8,539,532.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mitchell Shuster Steiner also recently made the following trade(s):

• On Wednesday, May 22nd, Mitchell Shuster Steiner sold 6,504 shares of Veru stock. The shares were sold at an average price of $1.39, for a total transaction of $9,040.56.
• On Friday, May 17th, Mitchell Shuster Steiner sold 28,066 shares of Veru stock. The shares were sold at an average price of $1.32, for a total transaction of $37,047.12.
• On Wednesday, May 15th, Mitchell Shuster Steiner sold 84,021 shares of Veru stock. The shares were sold at an average price of $1.50, for a total value of $126,031.50.

Veru Price Performance

Shares of VERU stock traded down $0.04 during midday trading on Friday, reaching $1.23. 1,652,069 shares of the company traded hands, compared to its average volume of 2,087,248. The firm’s 50 day simple moving average is $1.17 and its two-hundred day simple moving average is $0.85. The firm has a market cap of $180.05 million, a PE ratio of -3.62 and a beta of -0.47. Veru Inc. has a 1-year low of $0.36 and a 1-year high of $1.92.

Veru (NASDAQ:VERU) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $2.14 million for the quarter. Veru had a negative return on equity of 130.13% and a negative net margin of 265.27%. As a group, research analysts anticipate that Veru Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC acquired a new stake in Veru in the 1st quarter valued at about $33,000. Choreo LLC purchased a new position in Veru during the 1st quarter valued at about $64,000. 180 Wealth Advisors LLC acquired a new stake in shares of Veru in the first quarter valued at approximately $120,000. ADAR1 Capital Management LLC purchased a new position in shares of Veru during the 4th quarter worth approximately $360,000. Finally, Alpine Global Management LLC raised its position in shares of Veru by 21.0% during the 1st quarter. Alpine Global Management LLC now owns 710,000 shares of the company’s stock worth $497,000 after purchasing an additional 122,999 shares during the last quarter. Institutional investors and hedge funds own 47.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James initiated coverage on Veru in a research report on Thursday, March 28th. They issued an “outperform” rating and a $3.00 price target on the stock. B. Riley started coverage on shares of Veru in a research report on Tuesday, May 14th. They issued a “buy” rating and a $5.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Veru in a research report on Monday, May 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $5.00 target price (down previously from $7.00) on shares of Veru in a report on Monday, April 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Veru Company Profile

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.