Trexquant Investment LP purchased a new stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,162 shares of the company's stock, valued at approximately $1,447,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Verona Pharma during the 3rd quarter worth $494,000. Stifel Financial Corp acquired a new stake in Verona Pharma in the third quarter worth about $474,000. Wellington Management Group LLP grew its position in Verona Pharma by 19.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company's stock valued at $54,048,000 after buying an additional 307,272 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Verona Pharma in the 3rd quarter valued at about $327,000. Finally, Sanctuary Advisors LLC acquired a new position in Verona Pharma during the 3rd quarter valued at about $219,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Truist Financial reaffirmed a "buy" rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. HC Wainwright boosted their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Roth Mkm began 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 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, the company presently has a consensus rating of "Buy" and a consensus target price of $69.14.
Read Our Latest Stock Analysis on Verona Pharma
Verona Pharma Trading Up 1.9 %
VRNA stock traded up $1.09 during mid-day trading on Tuesday, reaching $58.90. 133,341 shares of the stock traded hands, compared to its average volume of 1,204,268. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $70.40. The stock's fifty day moving average is $62.53 and its 200-day moving average is $48.90. The company has a market cap of $4.76 billion, a P/E ratio of -30.69 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.
Insider Activity
In other news, insider Kathleen A. Rickard sold 79,264 shares of the 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 completion of the sale, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is owned by company insiders.
Verona Pharma Profile
(
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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