American Century Companies Inc. Decreases Holdings in Verona Pharma plc (NASDAQ:VRNA)

American Century Companies Inc. decreased its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 619,805 shares of the company's stock after selling 256,799 shares during the period. American Century Companies Inc. owned about 0.77% of Verona Pharma worth $28,784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VRNA. GAMMA Investing LLC raised its position in Verona Pharma by 20.7% during the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after purchasing an additional 276 shares in the last quarter. EMC Capital Management raised its holdings in shares of Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after acquiring an additional 3,400 shares in the last quarter. Wrapmanager Inc. purchased a new stake in Verona Pharma in the fourth quarter worth about $207,000. Sanctuary Advisors LLC purchased a new stake in Verona Pharma in the third quarter worth about $219,000. Finally, Transcend Capital Advisors LLC bought a new position in Verona Pharma during the 4th quarter worth about $225,000. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma Stock Performance

Shares of NASDAQ:VRNA traded up $1.75 during midday trading on Wednesday, reaching $60.29. The company's stock had a trading volume of 1,689,837 shares, compared to its average volume of 1,165,670. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $70.40. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $4.87 billion, a PE ratio of -31.40 and a beta of 0.39. The stock has a fifty day moving average of $62.64 and a 200 day moving average of $47.03.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. Roth Mkm initiated coverage on Verona Pharma in a report on Friday, January 10th. They issued a "buy" rating and a $68.00 price target on the stock. Truist Financial reaffirmed a "buy" rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Canaccord Genuity Group boosted their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, HC Wainwright lifted their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $69.14.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

About Verona Pharma

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.