Knott David M Jr lowered its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,300 shares of the company's stock after selling 20,700 shares during the period. Verona Pharma comprises about 2.7% of Knott David M Jr's holdings, making the stock its 6th largest position. Knott David M Jr owned 0.20% of Verona Pharma worth $7,398,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock worth $75,000 after buying an additional 276 shares during the period. EMC Capital Management lifted 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 worth $163,000 after acquiring an additional 3,400 shares during the period. Wrapmanager Inc. purchased a new position in shares of Verona Pharma in the 4th quarter valued at approximately $207,000. Transcend Capital Advisors LLC acquired a new position in shares of Verona Pharma in the fourth quarter valued at approximately $225,000. Finally, Raymond James Financial Inc. purchased a new position in Verona Pharma during the 4th quarter worth $225,000. 85.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
VRNA has been the subject of several analyst reports. Canaccord Genuity Group increased their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Roth Capital set a $83.00 target price on Verona Pharma in a research note on Friday, February 28th. Wells Fargo & Company lifted their price target on Verona Pharma from $74.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Roth Mkm started coverage on Verona Pharma in a research report on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective for the company. Finally, Truist Financial restated a "buy" rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $69.14.
View Our Latest Report on VRNA
Verona Pharma Price Performance
Shares of Verona Pharma stock traded down $4.19 on Friday, hitting $53.90. The company's stock had a trading volume of 2,073,737 shares, compared to its average volume of 1,176,494. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $62.70 and a 200-day moving average price of $47.27. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $70.40. The company has a market capitalization of $4.36 billion, a P/E ratio of -28.07 and a beta of 0.16.
Insider Buying and Selling at Verona Pharma
In other news, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.80% of the company's stock.
About Verona Pharma
(
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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