Alps Advisors Inc. Reduces Holdings in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

Alps Advisors Inc. trimmed its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,180 shares of the company's stock after selling 5,993 shares during the quarter. Alps Advisors Inc. owned 0.07% of Verona Pharma PLC American Depositary Share worth $3,821,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of Verona Pharma PLC American Depositary Share during the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. bought a new position in Verona Pharma PLC American Depositary Share during the fourth quarter worth about $46,000. GF Fund Management CO. LTD. acquired a new stake in Verona Pharma PLC American Depositary Share in the 4th quarter valued at approximately $72,000. Avanza Fonder AB acquired a new stake in Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $100,000. Finally, GAMMA Investing LLC boosted its stake in shares of Verona Pharma PLC American Depositary Share by 14.0% during the 1st quarter. GAMMA Investing LLC now owns 1,837 shares of the company's stock worth $117,000 after acquiring an additional 225 shares during the period. 85.88% of the stock is owned by institutional investors.

Verona Pharma PLC American Depositary Share Stock Up 0.1%

NASDAQ VRNA traded up $0.10 on Tuesday, hitting $104.77. 10,540,625 shares of the stock traded hands, compared to its average volume of 1,685,031. The company has a market capitalization of $8.92 billion, a P/E ratio of -52.39 and a beta of 0.24. The stock has a 50-day moving average of $84.54 and a 200 day moving average of $68.38. Verona Pharma PLC American Depositary Share has a twelve month low of $18.51 and a twelve month high of $104.99. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The business had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. As a group, analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Verona Pharma PLC American Depositary Share news, General Counsel Andrew Fisher sold 80,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $11.53, for a total transaction of $922,400.00. Following the completion of the sale, the general counsel directly owned 359,999 shares in the company, valued at $4,150,788.47. The trade was a 18.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen A. Rickard sold 114,984 shares of Verona Pharma PLC American Depositary Share stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total value of $1,014,158.88. Following the completion of the sale, the insider directly owned 2,546,472 shares in the company, valued at $22,459,883.04. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,965,800 shares of company stock valued at $20,056,881 over the last ninety days. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

VRNA has been the subject of a number of research reports. 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. Truist Financial lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. TD Cowen cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. HC Wainwright reissued a "neutral" rating and set a $107.00 price objective (up from $90.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Monday. Finally, Wells Fargo & Company downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $138.00 to $107.00 in a research note on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $109.00.

About Verona Pharma PLC American Depositary Share

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.