China Universal Asset Management Co. Ltd. Increases Stake in Vanda Pharmaceuticals

China Universal Asset Management Co. Ltd. has significantly increased its investment in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 64.0% during the third quarter of the year. As per their latest filing with the Securities and Exchange Commission, the firm now owns a total of 11,211 shares of Vanda Pharmaceuticals after acquiring an additional 4,374 shares during this period. The value of their holdings in the biopharmaceutical company was approximately $53,000 based on the latest data.

In addition to China Universal Asset Management, several other hedge funds have also adjusted their positions in Vanda Pharmaceuticals recently. Sei Investments Co. raised its stake in the company by 39.6% in the first quarter, bringing their total shares owned to 518,851, worth about $2,132,000 after purchasing an extra 147,066 shares. Susquehanna Fundamental Investments LLC has acquired a new stake valued at approximately $1,158,000 in Vanda Pharmaceuticals during the same timeframe. Furthermore, Acadian Asset Management LLC raised its holdings by 4.7%, now holding 2,370,335 shares valued at around $9,740,000 after acquiring an additional 107,203 shares.

Monaco Asset Management SAM also entered the scene by purchasing a new position worth about $1,090,000 in the second quarter. Meanwhile, Empowered Funds LLC increased its stake by 8.2% during the first quarter, now owning 201,283 shares, valued at $827,000 following an additional purchase of 15,215 shares. Notably, 88.14% of Vanda Pharmaceuticals’ stock is currently owned by institutional investors.

Stock Performance Overview

As of Friday, shares of VNDA opened at $4.65. The stock has seen a low of $3.30 and a high of $6.75 over the past twelve months. The fifty-day simple moving average stands at $4.86, with a two-hundred-day simple moving average of $5.23. Vanda Pharmaceuticals Inc. currently has a market capitalization of $271.05 million and a price-to-earnings ratio of -24.47, with a beta value of 0.77.

On July 31st, Vanda Pharmaceuticals released its quarterly earnings data, reporting an EPS of ($0.08) and revenue of $50.47 million for the quarter. The company has noted a negative return on equity of 2.01% and a negative net margin of 6.00%. Analysts project that Vanda Pharmaceuticals will post an EPS of -0.49 for the current fiscal year.

Analysts Issue New Price Targets

Several research analysts have provided updated reports regarding VNDA shares. Cantor Fitzgerald raised their price target from $11.00 to $13.00 and awarded the company an “overweight” rating in a report dated August 1st. HC Wainwright began their coverage on Vanda Pharmaceuticals with a “buy” rating and a price target of $18.00. StockNews.com also initiated coverage on Vanda, giving it a “hold” rating.

Company Overview

Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and marketing therapies to meet significant medical needs globally. Among its marketed products is HETLIOZ, which treats non-24-hour sleep-wake disorders, and Fanapt, an oral tablet used for treating schizophrenia.

China, Investment, Biopharmaceutical