Bamco Inc. NY Purchases 169,913 Shares of Veradermics, Incorporated $MANE

Key Points

• Bamco Inc. NY increased its Veradermics position by 284.8% in the second quarter, purchasing 169,913 additional shares and bringing its total holdings to 229,581 shares worth approximately $28.2 million.
• Veradermics shares opened at $102.91, while the company reported a quarterly loss of $0.58 per share, in line with analyst expectations. Analysts expect a full-year loss of $2.74 per share.
• Insiders sold 961,000 shares worth roughly $103.1 million during the last quarter, despite analysts maintaining a “Moderate Buy” consensus rating with an average price target of $153.

Bamco Inc. NY increased its position in shares of Veradermics, Incorporated (NYSE:MANE - Free Report) by 284.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,581 shares of the company's stock after acquiring an additional 169,913 shares during the period. Bamco Inc. NY owned approximately 0.55% of Veradermics worth $28,225,000 as of its most recent filing with the Securities and Exchange Commission.

Veradermics Trading Up 0.5%

Shares of NYSE MANE opened at $102.91 on Thursday. The firm's 50-day moving average price is $111.71. The stock has a market cap of $4.30 billion and a PE ratio of -54.16. Veradermics, Incorporated has a 1-year low of $32.00 and a 1-year high of $131.24.

Veradermics (NYSE:MANE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). As a group, sell-side analysts anticipate that Veradermics, Incorporated will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Veradermics

In other Veradermics news, insider Timothy August Durso sold 43,500 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider directly owned 78,142 shares in the company, valued at $8,425,270.44. This represents a 35.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total value of $10,712,000.00. Following the transaction, the director directly owned 194,117 shares in the company, valued at $20,793,813.04. This trade represents a 34.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 961,000 shares of company stock worth $103,120,220 in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on MANE. Wall Street Zen raised Veradermics from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group set a $170.00 target price on Veradermics in a research note on Wednesday, July 15th. Lifesci Capital started coverage on Veradermics in a report on Tuesday, June 16th. They issued an "outperform" rating and a $135.00 price target on the stock. Needham & Company LLC lifted their price target on Veradermics from $136.00 to $164.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group boosted their price objective on Veradermics from $138.00 to $182.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $153.00.

About Veradermics

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.

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