Loomis Sayles & Co. L P Sells 31,541 Shares of Verona Pharma plc (NASDAQ:VRNA)

Loomis Sayles & Co. L P reduced its stake in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,079,555 shares of the company's stock after selling 31,541 shares during the period. Loomis Sayles & Co. L P owned 1.35% of Verona Pharma worth $50,135,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in 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 last quarter. EMC Capital Management grew its holdings in Verona Pharma by 3,400.0% in the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after buying 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. Transcend Capital Advisors LLC bought a new stake in Verona Pharma during the 4th quarter valued at $225,000. Finally, Raymond James Financial Inc. acquired a new position in Verona Pharma during the 4th quarter worth $225,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Down 1.9 %

Shares of NASDAQ:VRNA traded down $1.18 during trading on Tuesday, reaching $62.31. 475,224 shares of the company traded hands, compared to its average volume of 1,149,800. The firm has a fifty day simple moving average of $62.43 and a 200 day simple moving average of $46.73. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $70.40. The firm has a market cap of $5.04 billion, a P/E ratio of -32.27 and a beta of 0.39.

Remove Ads

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of the firm'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 transaction of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. This trade represents 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 available through the SEC website. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRNA shares. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. 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 target on the stock. Truist Financial reiterated a "buy" rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, 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 research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $69.14.

About Verona Pharma

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.