Sei Investments Co. Sells 12,425 Shares of Verona Pharma plc (NASDAQ:VRNA)

Sei Investments Co. lessened its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,777 shares of the company's stock after selling 12,425 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Verona Pharma worth $3,380,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 increased its position in Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after purchasing an additional 3,400 shares during the period. Wrapmanager Inc. bought a new position in Verona Pharma during the 4th quarter worth approximately $207,000. Sanctuary Advisors LLC acquired a new position in shares of Verona Pharma in the 3rd quarter worth approximately $219,000. Finally, Transcend Capital Advisors LLC bought a new stake in shares of Verona Pharma in the 4th quarter valued at $225,000. 85.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

VRNA has been the topic of several recent analyst reports. HC Wainwright boosted their target price on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, February 28th. Truist Financial restated a "buy" rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Wells Fargo & Company raised their target price on Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Roth Mkm initiated coverage on shares of Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $69.14.

Verona Pharma Stock Down 0.2 %

Shares of NASDAQ VRNA traded down $0.13 during midday trading on Tuesday, hitting $54.17. 1,776,924 shares of the stock traded hands, compared to its average volume of 1,191,822. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma plc has a one year low of $11.39 and a one year high of $70.40. The business has a 50 day moving average price of $62.72 and a two-hundred day moving average price of $47.91. The company has a market cap of $4.38 billion, a PE ratio of -28.21 and a beta of 0.16.

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.