Verus Capital Partners LLC Has $326,000 Stock Holdings in Verona Pharma plc (NASDAQ:VRNA)

Verus Capital Partners LLC lowered its stake in Verona Pharma plc (NASDAQ:VRNA) by 34.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,320 shares of the company’s stock after selling 6,065 shares during the period. Verus Capital Partners LLC’s holdings in Verona Pharma were worth $326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC acquired a new stake in shares of Verona Pharma during the 2nd quarter valued at $29,000. EMC Capital Management bought a new position in Verona Pharma in the second quarter valued at about $38,000. GAMMA Investing LLC boosted its stake in shares of Verona Pharma by 70.6% during the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after purchasing an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Verona Pharma by 25.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after purchasing an additional 529 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of Verona Pharma in the second quarter valued at approximately $154,000. Institutional investors own 85.88% of the company’s stock.

Verona Pharma Trading Down 5.3 %

VRNA opened at $36.93 on Thursday. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $40.13. The company has a fifty day moving average of $32.23 and a 200-day moving average of $23.30. The stock has a market cap of $2.97 billion, a PE ratio of -19.23 and a beta of 0.42. 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 (NASDAQ:VRNA) last issued its quarterly 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 business had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $2.31 million. During the same period in the prior year, the firm posted ($0.18) EPS. On average, sell-side analysts predict that Verona Pharma plc will post -2.11 EPS for the current year.

Insiders Place Their Bets

In other Verona Pharma news, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the transaction, the chief executive officer now directly owns 15,004,920 shares in the company, valued at approximately $65,721,549.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director David R. Ebsworth bought 39,360 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average cost of $4.80 per share, with a total value of $188,928.00. Following the transaction, the director now directly owns 920,003 shares of the company’s stock, valued at approximately $4,416,014.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the completion of the transaction, the chief executive officer now owns 15,004,920 shares in the company, valued at approximately $65,721,549.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,141,944 shares of company stock worth $5,004,952. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VRNA shares. Canaccord Genuity Group lifted their target price on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. HC Wainwright lifted their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $43.83.

Verona Pharma Company Profile

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.