Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Knott David M Jr

Knott David M Jr cut its holdings in shares of Verona Pharma plc (NASDAQ:VRNA) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 159,300 shares of the company’s stock after selling 20,700 shares during the period. Verona Pharma makes up about 2.7% of Knott David M Jr’s portfolio, making the stock its 6th largest holding. Knott David M Jr owned 0.20% of Verona Pharma worth $7,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VRNA. Shilanski & Associates Inc. purchased a new position in shares of Verona Pharma in the fourth quarter valued at approximately $305,000. Wellington Management Group LLP raised its position in shares of Verona Pharma by 19.6% in the third quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock valued at $54,048,000 after buying an additional 307,272 shares during the last quarter. Values First Advisors Inc. raised its position in shares of Verona Pharma by 36.9% in the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company’s stock valued at $1,092,000 after buying an additional 6,331 shares during the last quarter. Choreo LLC purchased a new stake in Verona Pharma during the 4th quarter valued at about $230,000. Finally, Legato Capital Management LLC raised its holdings in Verona Pharma by 132.9% in the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company’s stock valued at $1,154,000 after acquiring an additional 14,183 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VRNA shares. Roth Capital set a $83.00 price target on Verona Pharma in a research report on Friday, February 28th. Truist Financial restated a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Roth Mkm initiated coverage on shares of Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 target price on the stock. Finally, HC Wainwright raised their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat.com, Verona Pharma currently has a consensus rating of “Buy” and an average price target of $69.14.

Verona Pharma Trading Up 1.3 %

NASDAQ:VRNA opened at $63.49 on Tuesday. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40. The firm has a market cap of $5.13 billion, a PE ratio of -33.07 and a beta of 0.39. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $62.43 and a 200 day moving average price of $46.73.

Insider Buying and Selling at Verona Pharma

In other news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction 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 completion of the sale, the insider now directly owns 2,608,976 shares of the company’s stock, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.80% of the stock is owned by corporate insiders.

Verona Pharma 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.