HBK Sorce Advisory LLC increased its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 387.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,814 shares of the company's stock after acquiring an additional 28,461 shares during the quarter. HBK Sorce Advisory LLC's holdings in Verona Pharma were worth $1,663,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after buying an additional 276 shares during the period. EMC Capital Management lifted its stake in 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 buying an additional 3,400 shares during the period. Wrapmanager Inc. acquired a new position in Verona Pharma in the fourth quarter valued at about $207,000. Transcend Capital Advisors LLC acquired a new stake in shares of Verona Pharma during the fourth quarter worth about $225,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Verona Pharma during the fourth quarter worth about $225,000. Institutional investors and hedge funds own 85.88% of the company's stock.
Verona Pharma Stock Down 4.5 %
Shares of NASDAQ:VRNA traded down $3.01 during mid-day trading on Tuesday, reaching $63.55. 881,366 shares of the stock were exchanged, compared to its average volume of 1,129,406. 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 $5.14 billion, a P/E ratio of -33.10 and a beta of 0.39. Verona Pharma plc has a one year low of $11.39 and a one year high of $70.40. The stock's 50 day simple moving average is $59.22 and its 200-day simple moving average is $44.11.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Truist Financial reaffirmed a "buy" rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Roth Mkm assumed coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price target on the stock. Canaccord Genuity Group increased their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Roth Capital set a $83.00 price objective on Verona Pharma in a report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $69.14.
Get Our Latest Stock Analysis on VRNA
Insider Buying and Selling at Verona Pharma
In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,608,976 shares in the company, valued at $21,784,949.60. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.80% of the company's stock.
About Verona Pharma
(
Free Report)
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.
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