Wrapmanager Inc. Takes Position in Verona Pharma plc (NASDAQ:VRNA)

Wrapmanager Inc. bought a new position in Verona Pharma plc (NASDAQ:VRNA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,448 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Maverick Capital Ltd. raised its position in shares of Verona Pharma by 36.3% in the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company’s stock valued at $121,294,000 after purchasing an additional 1,123,166 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in Verona Pharma by 2.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 3,383,950 shares of the company’s stock worth $97,356,000 after acquiring an additional 69,601 shares during the period. Eventide Asset Management LLC raised its holdings in Verona Pharma by 359.6% in the 3rd quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company’s stock worth $69,792,000 after acquiring an additional 1,898,065 shares during the period. Jennison Associates LLC lifted its position in Verona Pharma by 8.5% during the 4th quarter. Jennison Associates LLC now owns 1,889,542 shares of the company’s stock worth $87,750,000 after acquiring an additional 148,656 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Verona Pharma by 19.6% during the third quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock valued at $54,048,000 after acquiring an additional 307,272 shares during the period. Institutional investors own 85.88% of the company’s stock.

Verona Pharma Stock Performance

VRNA opened at $62.39 on Wednesday. The stock’s 50 day simple moving average is $53.51 and its 200-day simple moving average is $40.32. 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 market cap of $5.02 billion, a PE ratio of -32.49 and a beta of 0.41. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $68.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRNA shares. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Roth Capital raised Verona Pharma to a “strong-buy” rating in a research report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective (up previously from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Finally, Roth Mkm began 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 for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Verona Pharma currently has a consensus rating of “Buy” and a consensus target price of $57.14.

Insiders Place Their Bets

In other Verona Pharma news, CEO David Zaccardelli sold 67,608 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $5.00, for a total transaction of $338,040.00. Following the completion of the transaction, the chief executive officer now owns 15,007,816 shares in the company, valued at $75,039,080. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Hahn sold 98,704 shares of Verona Pharma stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.01, for a total value of $494,507.04. Following the sale, the chief financial officer now directly owns 14,177,296 shares in the company, valued at $71,028,252.96. The trade was a 0.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 674,712 shares of company stock worth $3,379,001 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

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.