Federated Hermes Inc. Has $84.77 Million Position in Verona Pharma plc (NASDAQ:VRNA)

Federated Hermes Inc. decreased its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 15.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,825,293 shares of the company's stock after selling 342,607 shares during the quarter. Federated Hermes Inc. owned approximately 2.28% of Verona Pharma worth $84,767,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VRNA. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Verona Pharma in the 4th quarter worth about $6,290,000. Atika Capital Management LLC lifted its stake in shares of Verona Pharma by 194.4% during the 4th quarter. Atika Capital Management LLC now owns 212,000 shares of the company's stock valued at $9,845,000 after buying an additional 140,000 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Verona Pharma by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock worth $3,117,000 after purchasing an additional 14,362 shares in the last quarter. Trexquant Investment LP purchased a new position in Verona Pharma in the 4th quarter worth approximately $1,447,000. Finally, Geode Capital Management LLC lifted its position in Verona Pharma by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock worth $2,914,000 after buying an additional 660 shares during the last quarter. Institutional investors own 85.88% of the company's stock.

Insider Activity at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the sale, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by insiders.

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Verona Pharma Price Performance

Shares of NASDAQ VRNA traded up $3.78 during midday trading on Friday, hitting $57.71. The company had a trading volume of 963,181 shares, compared to its average volume of 1,207,731. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of -30.06 and a beta of 0.16. 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 business has a 50-day simple moving average of $62.60 and a two-hundred day simple moving average of $48.55. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $70.40.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VRNA shares. Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research report on Friday, February 28th. HC Wainwright increased their price target on Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Truist Financial reiterated a "buy" rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $69.14.

Verona Pharma Company 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.