Rosalind Advisors Inc. lowered its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 45.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 150,000 shares of the company's stock after selling 125,000 shares during the period. Verona Pharma accounts for 3.5% of Rosalind Advisors Inc.'s portfolio, making the stock its 12th biggest holding. Rosalind Advisors Inc. owned about 0.19% of Verona Pharma worth $6,966,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of VRNA. Eventide Asset Management LLC grew its position in Verona Pharma by 359.6% in the 3rd quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company's stock worth $69,792,000 after purchasing an additional 1,898,065 shares during the last quarter. Maverick Capital Ltd. boosted its position in shares of Verona Pharma by 36.3% during the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company's stock worth $121,294,000 after buying an additional 1,123,166 shares during the period. Loomis Sayles & Co. L P bought a new position in Verona Pharma in the 3rd quarter worth approximately $31,966,000. Jennison Associates LLC increased its position in Verona Pharma by 54.3% in the 3rd quarter. Jennison Associates LLC now owns 1,740,886 shares of the company's stock valued at $50,085,000 after acquiring an additional 612,854 shares during the period. Finally, Franklin Resources Inc. bought a new stake in Verona Pharma during the 3rd quarter valued at $16,103,000. Institutional investors and hedge funds own 85.88% of the company's stock.
Verona Pharma Price Performance
VRNA stock traded down $2.00 on Wednesday, hitting $64.18. 705,556 shares of the company's stock traded hands, compared to its average volume of 1,139,678. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of -33.43 and a beta of 0.39. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40. The stock has a fifty day moving average of $61.49 and a 200-day moving average of $45.75.
Analysts Set New Price Targets
Several research analysts have recently issued reports on VRNA shares. Roth Capital set a $83.00 price target on Verona Pharma in a research note on Friday, February 28th. Wells Fargo & Company increased their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Roth Mkm started coverage on shares of 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 shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, HC Wainwright boosted their target price on Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $69.14.
Read Our Latest Report on Verona Pharma
Insider Activity
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 transaction of $661,854.40. Following the sale, the insider now directly owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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