Vivo Capital LLC trimmed its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 35.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,283,975 shares of the company's stock after selling 1,265,783 shares during the period. Verona Pharma makes up approximately 11.9% of Vivo Capital LLC's investment portfolio, making the stock its 2nd largest holding. Vivo Capital LLC owned 2.86% of Verona Pharma worth $106,068,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in VRNA. Teachers Retirement System of The State of Kentucky bought a new stake in Verona Pharma in the fourth quarter worth approximately $941,000. Nan Fung Group Holdings Ltd bought a new position in shares of Verona Pharma in the fourth quarter worth about $6,178,000. Marshall Wace LLP grew its stake in shares of Verona Pharma by 123.4% in the fourth quarter. Marshall Wace LLP now owns 28,617 shares of the company's stock worth $1,329,000 after acquiring an additional 15,805 shares during the last quarter. Affinity Asset Advisors LLC increased its position in Verona Pharma by 1.5% during the fourth quarter. Affinity Asset Advisors LLC now owns 660,000 shares of the company's stock worth $30,650,000 after acquiring an additional 10,000 shares during the period. Finally, XTX Topco Ltd bought a new stake in Verona Pharma in the 4th quarter valued at $710,000. 85.88% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently weighed in on VRNA. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research note on Friday, February 28th. Roth Mkm initiated coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price objective on the stock. Cantor Fitzgerald started coverage on shares of Verona Pharma in a research note on Monday, April 21st. They set an "overweight" rating and a $80.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, HC Wainwright lifted their target price 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Verona Pharma currently has a consensus rating of "Buy" and a consensus price target of $75.43.
View Our Latest Analysis on VRNA
Insider Transactions at Verona Pharma
In other news, insider Kathleen A. Rickard sold 79,264 shares of the 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 sale, the insider now directly owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by company insiders.
Verona Pharma Price Performance
Shares of VRNA traded up $0.68 during trading hours on Friday, hitting $65.46. The stock had a trading volume of 766,895 shares, compared to its average volume of 1,226,537. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $70.40. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of -34.09 and a beta of 0.16. The company's fifty day moving average is $62.40 and its two-hundred day moving average is $50.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.
Verona Pharma Company 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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