RTW Investments LP Purchases New Position in Verona Pharma plc (NASDAQ:VRNA)

RTW Investments LP purchased a new position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,821,019 shares of the company's stock, valued at approximately $84,568,000. Verona Pharma makes up 1.3% of RTW Investments LP's holdings, making the stock its 25th largest holding. RTW Investments LP owned about 2.28% of Verona Pharma as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Diversify Advisory Services LLC increased its stake in shares of Verona Pharma by 5.2% in the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock valued at $279,000 after buying an additional 305 shares during the period. Townsquare Capital LLC grew its holdings in Verona Pharma by 1.9% during the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company's stock worth $834,000 after acquiring an additional 332 shares during the last quarter. Geode Capital Management LLC increased its position in Verona Pharma by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock valued at $2,914,000 after acquiring an additional 660 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Verona Pharma by 8.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company's stock valued at $1,061,000 after acquiring an additional 1,807 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in shares of Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after purchasing an additional 3,400 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma Trading Up 1.8%

VRNA traded up $1.27 during trading on Monday, reaching $72.58. 869,833 shares of the stock traded hands, compared to its average volume of 1,292,688. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.88 billion, a PE ratio of -37.80 and a beta of 0.20. The stock's 50-day moving average is $63.68 and its 200 day moving average is $54.53. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $74.18.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. Equities analysts anticipate that Verona Pharma plc will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VRNA shares. Roth Capital set a $83.00 target price on Verona Pharma in a research report on Friday, February 28th. Wells Fargo & Company raised their price objective on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. TD Cowen began coverage on Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating and a $100.00 price objective for the company. Canaccord Genuity Group raised their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald began coverage on Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Verona Pharma currently has an average rating of "Buy" and an average price target of $81.50.

Insider Activity at Verona Pharma

In related 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 value of $661,854.40. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Zaccardelli sold 90,360 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $811,432.80. Following the sale, the chief executive officer now owns 14,377,176 shares of the company's stock, valued at $129,107,040.48. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 365,064 shares of company stock valued at $3,208,741 in the last three months. Corporate insiders own 4.80% of the company's stock.

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.