Verona Pharma plc (NASDAQ:VRNA) Shares Acquired by Silverarc Capital Management LLC

Silverarc Capital Management LLC increased its position in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 516,014 shares of the company's stock after acquiring an additional 167,148 shares during the period. Verona Pharma comprises approximately 5.2% of Silverarc Capital Management LLC's holdings, making the stock its 5th largest position. Silverarc Capital Management LLC owned approximately 0.65% of Verona Pharma worth $23,964,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of VRNA. GAMMA Investing LLC lifted its stake in shares of Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock worth $75,000 after purchasing an additional 276 shares during the period. EMC Capital Management lifted its position in shares of 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 acquiring an additional 3,400 shares in the last quarter. Wrapmanager Inc. bought a new position in Verona Pharma in the 4th quarter worth approximately $207,000. Sanctuary Advisors LLC bought a new position in shares of Verona Pharma during the third quarter worth $219,000. Finally, Transcend Capital Advisors LLC purchased a new position in shares of Verona Pharma during the fourth quarter valued at about $225,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Insiders Place Their Bets

In other news, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction dated 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 owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company's stock.

Verona Pharma Stock Up 1.0 %

Verona Pharma stock traded up $0.68 during trading hours on Friday, reaching $65.46. The stock had a trading volume of 766,895 shares, compared to its average volume of 1,226,537. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -34.09 and a beta of 0.16. The business's 50 day moving average price is $62.38 and its 200-day moving average price is $50.32. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $70.40.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRNA. Truist Financial restated a "buy" rating and issued a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. HC Wainwright raised their price target on Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Roth Mkm assumed coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a "buy" rating and a $68.00 target price on the stock. Canaccord Genuity Group increased their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald initiated coverage on Verona Pharma in a report on Monday. They issued an "overweight" rating and a $80.00 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. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $75.43.

Verona Pharma 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.