Short Interest in Verona Pharma plc (NASDAQ:VRNA) Decreases By 20.5%

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 5,980,000 shares, a drop of 20.5% from the October 31st total of 7,520,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 5.8 days.

Verona Pharma Trading Down 0.7 %

Shares of NASDAQ:VRNA traded down $0.27 during midday trading on Friday, reaching $39.63. 697,825 shares of the company's stock were exchanged, compared to its average volume of 1,187,821. 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's 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $25.27. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $40.76.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The business had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. On average, research analysts anticipate that Verona Pharma will post -2.11 earnings per share for the current year.

Insider Buying and Selling at Verona Pharma

In other news, CEO David Zaccardelli sold 245,784 shares of the company's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the completion of the sale, the chief executive officer now owns 15,004,920 shares of the company's stock, valued at $65,721,549.60. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the completion of the sale, the insider now owns 2,671,480 shares of the company's stock, valued at $13,090,252. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,383,544 shares of company stock valued at $6,188,952 over the last ninety days. Corporate insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Verona Pharma

A number of hedge funds have recently added to or reduced their stakes in VRNA. NEA Management Company LLC lifted its holdings in shares of Verona Pharma by 9.3% in the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company's stock valued at $80,756,000 after buying an additional 476,190 shares during the period. Maverick Capital Ltd. raised its position in Verona Pharma by 36.3% in the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company's stock worth $121,294,000 after acquiring an additional 1,123,166 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Verona Pharma by 2.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,383,950 shares of the company's stock valued at $97,356,000 after acquiring an additional 69,601 shares during the period. Eventide Asset Management LLC boosted its position in shares of Verona Pharma by 359.6% during the 3rd quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company's stock worth $69,792,000 after purchasing an additional 1,898,065 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Verona Pharma by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company's stock worth $54,048,000 after purchasing an additional 307,272 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

Wall Street Analyst Weigh In

VRNA has been the topic of several recent research reports. HC Wainwright boosted their target price on Verona Pharma from $36.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Truist Financial upped their target price on Verona Pharma from $38.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Canaccord Genuity Group lifted their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of Verona Pharma from $50.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $43.83.

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.