XTX Topco Ltd bought a new stake in Verona Pharma plc (NASDAQ:VRNA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,295 shares of the company's stock, valued at approximately $710,000.
A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Verona Pharma by 61.0% in the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after buying an additional 1,146,609 shares during the last quarter. Jennison Associates LLC raised its position in shares of Verona Pharma by 8.5% in the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock valued at $87,750,000 after buying an additional 148,656 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Verona Pharma by 41.3% in the fourth quarter. Franklin Resources Inc. now owns 791,104 shares of the company's stock valued at $36,739,000 after buying an additional 231,376 shares during the last quarter. Atika Capital Management LLC raised its position in shares of Verona Pharma by 194.4% in the fourth quarter. Atika Capital Management LLC now owns 212,000 shares of the company's stock valued at $9,845,000 after buying an additional 140,000 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Verona Pharma by 17.8% in the fourth quarter. Prudential Financial Inc. now owns 208,100 shares of the company's stock valued at $9,664,000 after buying an additional 31,432 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.
Verona Pharma Trading Up 2.9 %
VRNA stock traded up $1.77 during mid-day trading on Wednesday, hitting $63.78. 361,005 shares of the company were exchanged, compared to its average volume of 1,433,701. 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 12-month low of $11.39 and a 12-month high of $70.40. The business has a fifty day simple moving average of $62.38 and a 200-day simple moving average of $50.00. The firm has a market capitalization of $5.15 billion, a P/E ratio of -33.22 and a beta of 0.16.
Insiders Place Their Bets
In other Verona Pharma 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on VRNA. Roth Mkm began coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a "buy" rating and a $68.00 target price for the company. Truist Financial restated a "buy" rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Cantor Fitzgerald initiated coverage on shares of Verona Pharma in a research report on Monday. They set an "overweight" rating and a $80.00 price objective for the company. HC Wainwright raised their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Verona Pharma presently has an average rating of "Buy" and an average price target of $75.43.
Get Our Latest Stock Analysis on Verona Pharma
Verona Pharma Profile
(
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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