ADAR1 Capital Management LLC increased its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 191.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,100 shares of the company's stock after buying an additional 19,100 shares during the period. ADAR1 Capital Management LLC's holdings in Verona Pharma were worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of VRNA. Wellington Management Group LLP grew its stake in Verona Pharma by 61.0% in the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Verona Pharma in the 3rd quarter worth approximately $16,103,000. Jennison Associates LLC raised its stake in shares of Verona Pharma by 8.5% during the 4th quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock worth $87,750,000 after acquiring an additional 148,656 shares in the last quarter. Atika Capital Management LLC lifted its position in Verona Pharma by 194.4% during the fourth quarter. Atika Capital Management LLC now owns 212,000 shares of the company's stock valued at $9,845,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Springhill Fund Asset Management HK Co Ltd purchased a new stake in Verona Pharma during the fourth quarter valued at approximately $6,290,000. Hedge funds and other institutional investors own 85.88% of the company's stock.
Insider Buying and Selling at Verona Pharma
In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.80% of the stock is owned by corporate insiders.
Verona Pharma Stock Performance
Shares of VRNA stock traded up $3.78 during trading hours on Friday, hitting $57.71. The company's stock had a trading volume of 963,181 shares, compared to its average volume of 1,207,731. The stock has a market cap of $4.66 billion, a PE ratio of -30.06 and a beta of 0.16. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40. The company has a 50 day moving average of $62.60 and a 200 day moving average of $48.55. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93.
Analyst Ratings Changes
A number of brokerages have recently issued reports on VRNA. Canaccord Genuity Group upped 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. Roth Mkm assumed coverage on Verona Pharma in a research note on Friday, January 10th. They issued a "buy" rating and a $68.00 price target for the company. Roth Capital set a $83.00 price target on Verona Pharma in a research note on Friday, February 28th. Truist Financial reaffirmed a "buy" rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, HC Wainwright boosted their target price 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $69.14.
Read Our Latest Analysis on VRNA
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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