Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Samsara BioCapital LLC

Samsara BioCapital LLC trimmed its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 43.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,225 shares of the company's stock after selling 152,275 shares during the quarter. Verona Pharma makes up approximately 1.1% of Samsara BioCapital LLC's holdings, making the stock its 21st largest position. Samsara BioCapital LLC owned 0.24% of Verona Pharma worth $5,617,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VRNA. NEA Management Company LLC lifted its position in Verona Pharma by 9.3% in the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company's stock valued at $80,756,000 after acquiring an additional 476,190 shares in the last quarter. Maverick Capital Ltd. lifted its holdings 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 valued at $121,294,000 after purchasing an additional 1,123,166 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Verona Pharma by 10.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company's stock valued at $47,925,000 after buying an additional 300,000 shares during the last quarter. Eventide Asset Management LLC increased its holdings 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 buying an additional 1,898,065 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Verona Pharma by 54.3% during 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. Institutional investors own 85.88% of the company's stock.

Verona Pharma Price Performance

Verona Pharma stock traded up $0.19 during midday trading on Thursday, reaching $40.04. The company had a trading volume of 939,463 shares, compared to its average volume of 937,883. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $40.76. The firm's fifty day simple moving average is $35.26 and its 200-day simple moving average is $25.89. 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 (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The firm had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same quarter last year, the business earned ($0.18) earnings per share. On average, analysts anticipate that Verona Pharma plc will post -2.11 EPS for the current year.

Insider Transactions at Verona Pharma

In other Verona Pharma news, CEO David Zaccardelli sold 245,784 shares of the firm's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the completion of the sale, the chief executive officer now owns 15,004,920 shares of the company's stock, valued at approximately $65,721,549.60. This trade represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 12,936 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $64,680.00. Following the completion of the sale, the chief financial officer now directly owns 14,276,000 shares in the company, valued at $71,380,000. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,622,112 shares of company stock valued at $7,383,768. Corporate insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

VRNA has been the topic of several research reports. HC Wainwright raised their target price on Verona Pharma from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Truist Financial upped their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Canaccord Genuity Group increased their target price on Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on Verona Pharma from $50.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $43.83.

About Verona Pharma

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.