Connor Clark & Lunn Investment Management Ltd. Has $3.66 Million Position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 780,933 shares of the biopharmaceutical company’s stock after acquiring an additional 55,567 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vanda Pharmaceuticals were worth $3,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Vanda Pharmaceuticals during the second quarter worth about $39,000. ORG Wealth Partners LLC bought a new position in shares of Vanda Pharmaceuticals during the third quarter worth approximately $40,000. SG Americas Securities LLC acquired a new stake in shares of Vanda Pharmaceuticals in the second quarter valued at approximately $61,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Vanda Pharmaceuticals by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,211 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 4,374 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Vanda Pharmaceuticals during the second quarter worth approximately $75,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Vanda Pharmaceuticals Trading Up 3.0 %

Shares of NASDAQ VNDA opened at $5.09 on Friday. The company has a market cap of $296.80 million, a price-to-earnings ratio of -18.18 and a beta of 0.77. Vanda Pharmaceuticals Inc. has a 12 month low of $3.46 and a 12 month high of $6.75. The stock has a 50-day moving average price of $4.80 and a two-hundred day moving average price of $5.27.

Insider Activity at Vanda Pharmaceuticals

In other news, Director Stephen Ray Mitchell sold 5,000 shares of Vanda Pharmaceuticals 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 sale, the director now directly owns 44,857 shares of the company’s stock, valued at approximately $231,910.69. This trade represents a 10.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.90% of the stock is owned by insiders.

Analyst Ratings Changes

VNDA has been the subject of a number of recent analyst reports. StockNews.com started coverage on Vanda Pharmaceuticals in a research report on Sunday, November 17th. They set a “hold” rating for the company. HC Wainwright assumed coverage on shares of Vanda Pharmaceuticals in a research report on Thursday, October 31st. They issued a “buy” rating and a $18.00 target price for the company. Finally, Cantor Fitzgerald increased their price target on shares of Vanda Pharmaceuticals from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

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.