Ally Bridge Group NY LLC Buys Shares of 139,067 Verona Pharma PLC American Depositary Share $VRNA

Key Points

• Ally Bridge Group NY LLC acquired 139,067 shares of Verona Pharma PLC, valued at approximately $8.8 million, making it the firm's 3rd largest position.
• Verona Pharma reported $0.13 earnings per share for the last quarter, exceeding expectations, and had revenues of $103.14 million against a consensus estimate of $90.41 million.
• Insiders have sold a total of 1,420,584 shares of Verona Pharma stock over the past 90 days, with 4.80% of the stock currently owned by corporate insiders.

Ally Bridge Group NY LLC bought a new stake in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 139,067 shares of the company's stock, valued at approximately $8,829,000. Verona Pharma PLC American Depositary Share accounts for approximately 7.9% of Ally Bridge Group NY LLC's holdings, making the stock its 3rd largest position. Ally Bridge Group NY LLC owned approximately 0.17% of Verona Pharma PLC American Depositary Share as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its stake in Verona Pharma PLC American Depositary Share by 381.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,631,000 shares of the company's stock valued at $103,552,000 after buying an additional 1,292,575 shares during the period. Frazier Life Sciences Management L.P. increased its stake in Verona Pharma PLC American Depositary Share by 2.2% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,457,850 shares of the company's stock valued at $219,539,000 after buying an additional 73,900 shares during the period. Baker BROS. Advisors LP acquired a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $14,212,000. Royal Bank of Canada increased its stake in Verona Pharma PLC American Depositary Share by 43.3% during the 1st quarter. Royal Bank of Canada now owns 9,719 shares of the company's stock valued at $617,000 after buying an additional 2,938 shares during the period. Finally, Armistice Capital LLC acquired a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $4,330,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Verona Pharma PLC American Depositary Share Stock Performance

Verona Pharma PLC American Depositary Share stock opened at $106.10 on Wednesday. The firm's 50 day simple moving average is $102.60 and its 200-day simple moving average is $81.24. The company has a market cap of $9.18 billion, a P/E ratio of -107.17 and a beta of 0.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 10.54. Verona Pharma PLC American Depositary Share has a fifty-two week low of $24.50 and a fifty-two week high of $106.13.

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

Analyst Ratings Changes

Several equities analysts have commented on VRNA shares. Jefferies Financial Group reissued a "hold" rating and set a $107.00 target price (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, July 9th. Roth Capital cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Zacks Research raised shares of Verona Pharma PLC American Depositary Share to a "hold" rating in a research note on Friday, August 8th. Wolfe Research cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Cantor Fitzgerald lifted their price objective on shares of Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $109.00.

Insiders Place Their Bets

In related news, insider Kathleen A. Rickard sold 58,336 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $766,535.04. Following the completion of the sale, the insider directly owned 2,607,472 shares in the company, valued at approximately $34,262,182.08. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew Fisher sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $11.53, for a total transaction of $922,400.00. Following the sale, the general counsel owned 359,999 shares of the company's stock, valued at approximately $4,150,788.47. This represents a 18.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,420,584 shares of company stock valued at $17,145,674 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Verona Pharma PLC American Depositary Share 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.

Want to see what other hedge funds are holding VRNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.