Verona Pharma PLC American Depositary Share $VRNA is Eventide Asset Management LLC's Largest Position

Key Points

• Eventide Asset Management LLC has reduced its stake in Verona Pharma PLC American Depositary Share by 7.6%, now holding approximately 2.89 million shares, making it the firm's largest investment.
• Verona Pharma reported a profit of $0.13 EPS for the last quarter, exceeding the analyst estimate of a loss, alongside revenue of $103.14 million, also surpassing expectations.
• Institutional investors currently own 85.88% of Verona Pharma's shares, indicating strong institutional confidence in the company amidst recent stock performance.

Eventide Asset Management LLC decreased its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,893,437 shares of the company's stock after selling 238,690 shares during the period. Verona Pharma PLC American Depositary Share makes up about 3.7% of Eventide Asset Management LLC's portfolio, making the stock its largest position. Eventide Asset Management LLC owned approximately 3.57% of Verona Pharma PLC American Depositary Share worth $183,692,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of VRNA. NBC Securities Inc. acquired a new position in Verona Pharma PLC American Depositary Share during the first quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new position in Verona Pharma PLC American Depositary Share during the 4th quarter worth $46,000. GF Fund Management CO. LTD. purchased a new position in Verona Pharma PLC American Depositary Share during the 4th quarter worth $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 worth $94,000 after acquiring an additional 632 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Verona Pharma PLC American Depositary Share during the 1st quarter worth $100,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VRNA shares. Piper Sandler downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Wolfe Research downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Zacks Research raised shares of Verona Pharma PLC American Depositary Share to a "hold" rating in a report on Friday, August 8th. Canaccord Genuity Group downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price objective on the stock. in a report on Wednesday, July 9th. Finally, BTIG Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $109.00.

Insider Buying and Selling

In other Verona Pharma PLC American Depositary Share news, Director Martin Edwards sold 10,808 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $142,017.12. Following the sale, the director directly owned 157,992 shares of the company's stock, valued at $2,076,014.88. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Zaccardelli sold 208,912 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $2,745,103.68. Following the sale, the chief executive officer directly owned 13,376,144 shares in the company, valued at approximately $175,762,532.16. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,420,584 shares of company stock worth $17,145,674 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Verona Pharma PLC American Depositary Share Stock Performance

Shares of NASDAQ VRNA traded up $0.07 during mid-day trading on Friday, reaching $106.31. 2,478,037 shares of the company's stock were exchanged, compared to its average volume of 1,225,138. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of -107.38 and a beta of 0.14. Verona Pharma PLC American Depositary Share has a 52 week low of $25.50 and a 52 week high of $106.44. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 10.54. The firm has a 50-day moving average price of $103.31 and a two-hundred day moving average price of $82.12.

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 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.14. The company had revenue of $103.14 million for the quarter, compared to analysts' expectations of $90.41 million. Verona Pharma PLC American Depositary Share had a negative return on equity of 21.12% and a negative net margin of 36.62%. Analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

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.