Legal & General Group Plc reduced its stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,216 shares of the company's stock after selling 234,788 shares during the quarter. Legal & General Group Plc owned about 0.18% of Verona Pharma worth $6,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after acquiring an additional 276 shares in the last quarter. EMC Capital Management boosted its holdings in shares of 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 last quarter. Wrapmanager Inc. purchased a new position in shares of Verona Pharma during the fourth quarter valued at about $207,000. Transcend Capital Advisors LLC bought a new stake in shares of Verona Pharma in the fourth quarter worth about $225,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Verona Pharma in the fourth quarter worth about $225,000. Institutional investors own 85.88% of the company's stock.
Verona Pharma Trading Up 2.3 %
Shares of VRNA stock traded up $1.45 during trading hours on Wednesday, reaching $63.46. 752,817 shares of the stock were exchanged, compared to its average volume of 1,215,984. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -32.99 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's 50-day moving average price is $62.38 and its 200-day moving average price is $50.00. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on VRNA shares. Canaccord Genuity Group lifted their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. HC Wainwright increased their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald began coverage on shares of Verona Pharma in a report on Monday. They issued an "overweight" rating and a $80.00 target price on the stock. 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $75.43.
Check Out Our Latest Analysis on VRNA
Insiders Place Their Bets
In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company's 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 transaction, the insider now owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by insiders.
Verona Pharma Profile
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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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