Allostery Investments LP Invests $794,000 in Verona Pharma PLC American Depositary Share $VRNA

Key Points

• Allostery Investments LP invested $794,000 in Verona Pharma PLC by acquiring 12,500 shares, representing 1.1% of its investment portfolio and making it the firm's 21st largest holding.
• Verona Pharma's stock has shown significant performance with a 52-week low of $24.50 and a high of $106.13, and it recently reported earnings of $0.13 per share, exceeding analysts' expectations.
• The stock currently has an average rating of "Hold" from analysts, with a price target of $109, reflecting cautious optimism about future performance.

Allostery Investments LP acquired a new position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,500 shares of the company's stock, valued at approximately $794,000. Verona Pharma PLC American Depositary Share makes up 1.1% of Allostery Investments LP's investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $34,000. Vermillion Wealth Management Inc. purchased a new stake in Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $46,000. GF Fund Management CO. LTD. purchased a new stake in Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $72,000. Advisors Preferred LLC boosted its holdings in Verona Pharma PLC American Depositary Share by 65.4% during the 1st quarter. Advisors Preferred LLC now owns 1,599 shares of the company's stock valued at $94,000 after acquiring an additional 632 shares during the period. Finally, Avanza Fonder AB purchased a new stake in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $100,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Verona Pharma PLC American Depositary Share Stock Up 0.2%

Shares of NASDAQ:VRNA opened at $106.10 on Wednesday. Verona Pharma PLC American Depositary Share has a 52-week low of $24.50 and a 52-week high of $106.13. The firm has a market capitalization of $9.18 billion, a P/E ratio of -107.17 and a beta of 0.14. The stock has a 50 day moving average price of $102.60 and a 200-day moving average price of $81.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 10.54 and a current ratio of 10.71.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.14. Verona Pharma PLC American Depositary Share had a negative return on equity of 21.12% and a negative net margin of 36.62%.The firm had revenue of $103.14 million during the quarter, compared to analyst estimates of $90.41 million. As a group, equities research analysts anticipate that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal year.

Insider Transactions at Verona Pharma PLC American Depositary Share

In related news, CEO David Zaccardelli sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the sale, the chief executive officer owned 13,190,168 shares in the company, valued at $150,367,915.20. This represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kathleen A. Rickard sold 58,336 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $766,535.04. Following the completion of the sale, the insider owned 2,607,472 shares in the company, valued at $34,262,182.08. The trade was a 2.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,420,584 shares of company stock worth $17,145,674. 4.80% of the stock is owned by insiders.

Analysts Set New Price Targets

VRNA has been the subject of several analyst reports. Wolfe Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Wells Fargo & Company cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and dropped their target price for the company from $138.00 to $107.00 in a report on Thursday, July 10th. HC Wainwright restated a "neutral" rating and set a $107.00 target price (up from $90.00) on shares of Verona Pharma PLC American Depositary Share in a report on Monday, July 14th. Zacks Research upgraded Verona Pharma PLC American Depositary Share to a "hold" rating in a report on Friday, August 8th. Finally, Truist Financial cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Verona Pharma PLC American Depositary Share presently has an average rating of "Hold" and an average price target of $109.00.

Verona Pharma PLC American Depositary Share 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.

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