Choreo LLC Takes Position in Verona Pharma plc (NASDAQ:VRNA)

Choreo LLC purchased a new position in Verona Pharma plc (NASDAQ:VRNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,893 shares of the company's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRNA. GAMMA Investing LLC lifted its position in shares of Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock worth $38,000 after buying an additional 553 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Verona Pharma by 25.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock worth $75,000 after buying an additional 529 shares during the last quarter. EMC Capital Management lifted its position 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 worth $163,000 after buying an additional 3,400 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma in the third quarter worth about $169,000. Finally, Claro Advisors LLC acquired a new position in shares of Verona Pharma during the 3rd quarter worth about $209,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Insider Buying and Selling at Verona Pharma

In other news, insider Kathleen A. Rickard sold 240,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.90, for a total value of $1,176,000.00. Following the sale, the insider now directly owns 2,671,480 shares in the company, valued at approximately $13,090,252. This represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark W. Hahn sold 183,728 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.01, for a total value of $920,477.28. Following the completion of the sale, the chief financial officer now owns 13,293,736 shares in the company, valued at approximately $66,601,617.36. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 952,488 shares of company stock valued at $4,743,881 in the last quarter. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VRNA. Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price objective for the company. Roth Capital raised Verona Pharma to a "strong-buy" rating in a research report on Friday, January 10th. HC Wainwright reissued a "buy" rating and set a $60.00 price objective (up previously from $42.00) on shares of Verona Pharma in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Finally, Truist Financial reissued 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Verona Pharma presently has an average rating of "Buy" and a consensus target price of $57.14.

Verona Pharma Stock Performance

Verona Pharma stock traded down $1.65 during trading hours on Tuesday, hitting $62.57. The stock had a trading volume of 501,994 shares, compared to its average volume of 1,516,855. The company has a 50-day moving average of $50.63 and a two-hundred day moving average of $38.47. 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 company has a market cap of $5.00 billion, a PE ratio of -32.53 and a beta of 0.41. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $65.50.

Verona Pharma Profile

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.