Hood River Capital Management LLC Buys 51,322 Shares of Verona Pharma plc (NASDAQ:VRNA)

Hood River Capital Management LLC raised its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,485,256 shares of the company's stock after buying an additional 51,322 shares during the period. Hood River Capital Management LLC owned about 1.86% of Verona Pharma worth $68,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of 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 buying an additional 276 shares in the last quarter. EMC Capital Management raised 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 last quarter. Wrapmanager Inc. acquired a new stake in shares of Verona Pharma during the fourth quarter worth about $207,000. Transcend Capital Advisors LLC acquired a new stake in Verona Pharma during the fourth quarter worth about $225,000. Finally, Raymond James Financial Inc. purchased a new position in Verona Pharma during the fourth quarter worth approximately $225,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma 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 transaction, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Verona Pharma Price Performance

Shares of Verona Pharma stock opened at $62.01 on Wednesday. The firm has a fifty day simple moving average of $62.38 and a 200-day simple moving average of $50.00. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -32.30 and a beta of 0.16. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRNA shares. Truist Financial restated a "buy" rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. HC Wainwright boosted their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 target price on the stock. Canaccord Genuity Group boosted their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald began coverage on shares of Verona Pharma in a research report on Monday. They set an "overweight" rating and a $80.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $75.43.

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.

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