Verona Pharma plc (NASDAQ:VRNA) Sees Large Increase in Short Interest

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 8,220,000 shares, an increase of 19.1% from the December 31st total of 6,900,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is currently 7.1 days.

Verona Pharma Trading Up 2.4 %

VRNA traded up $1.43 during midday trading on Wednesday, hitting $61.37. 2,215,239 shares of the company were exchanged, compared to its average volume of 1,611,232. 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 has a 1-year low of $11.39 and a 1-year high of $62.00. The firm's 50 day moving average price is $46.71 and its 200-day moving average price is $35.99. The firm has a market capitalization of $4.91 billion, a P/E ratio of -31.96 and a beta of 0.41.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The company had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same period in the previous year, the company earned ($0.18) earnings per share. As a group, equities analysts forecast that Verona Pharma will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial reiterated a "buy" rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. HC Wainwright reiterated a "buy" rating and issued a $60.00 price target (up from $42.00) on shares of Verona Pharma in a research report on Tuesday, January 21st. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Finally, Roth Mkm assumed coverage on Verona Pharma in a research note on Friday, January 10th. They issued a "buy" rating and a $68.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $53.14.

Insider Transactions at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 240,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 2,671,480 shares of the company's stock, valued at approximately $13,090,252. The trade was a 8.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 98,704 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $5.01, for a total transaction of $494,507.04. Following the completion of the transaction, the chief financial officer now directly owns 14,177,296 shares in the company, valued at $71,028,252.96. This trade represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 954,888 shares of company stock worth $4,755,881. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of Verona Pharma

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted 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 worth $75,000 after acquiring an additional 276 shares in the last quarter. Diversify Advisory Services LLC boosted its position in shares of Verona Pharma by 5.2% during the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock worth $279,000 after purchasing an additional 305 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock valued at $75,000 after buying an additional 529 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Verona Pharma by 8.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company's stock valued at $1,061,000 after buying an additional 1,807 shares in the last quarter. Finally, EMC Capital Management raised its stake 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 buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

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.