Bank of New York Mellon Corp Cuts Holdings in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Bank of New York Mellon Corp lessened its stake in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 14.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 175,017 shares of the biopharmaceutical company’s stock after selling 30,260 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vanda Pharmaceuticals were worth $838,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC increased its holdings in shares of Vanda Pharmaceuticals by 7.8% in the 3rd quarter. Verition Fund Management LLC now owns 40,285 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 2,927 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Vanda Pharmaceuticals by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 596,210 shares of the biopharmaceutical company’s stock worth $2,796,000 after purchasing an additional 3,473 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Vanda Pharmaceuticals by 8.8% in the third quarter. Franklin Resources Inc. now owns 55,226 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 4,449 shares in the last quarter. SG Americas Securities LLC increased its stake in Vanda Pharmaceuticals by 26.8% in the fourth quarter. SG Americas Securities LLC now owns 25,861 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 5,459 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Vanda Pharmaceuticals during the third quarter worth approximately $84,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.

Insiders Place Their Bets

In other Vanda Pharmaceuticals news, CEO Mihael Hristos Polymeropoulos acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $4.76 per share, with a total value of $47,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,361,730 shares of the company’s stock, valued at approximately $11,241,834.80. The trade was a 0.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders bought 32,000 shares of company stock worth $151,180. 8.90% of the stock is owned by insiders.

Vanda Pharmaceuticals Stock Down 0.2 %

NASDAQ:VNDA opened at $4.81 on Wednesday. The stock’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.75. The company has a market capitalization of $280.50 million, a PE ratio of -15.03 and a beta of 0.69. Vanda Pharmaceuticals Inc. has a 52-week low of $3.86 and a 52-week high of $6.75.

Vanda Pharmaceuticals (NASDAQ:VNDA) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.06. Vanda Pharmaceuticals had a negative return on equity of 3.49% and a negative net margin of 9.51%. The firm had revenue of $53.19 million for the quarter, compared to analysts’ expectations of $51.00 million. As a group, sell-side analysts anticipate that Vanda Pharmaceuticals Inc. will post -1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VNDA. HC Wainwright upped their target price on shares of Vanda Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. StockNews.com initiated coverage on shares of Vanda Pharmaceuticals in a research note on Wednesday, February 5th. They issued a “hold” rating for the company.

Vanda Pharmaceuticals Profile

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.