Harbor Capital Advisors Inc. Makes New $1.49 Million Investment in Verona Pharma PLC American Depositary Share $VRNA

Key Points

• Harbor Capital Advisors Inc. made a significant investment of $1.49 million in Verona Pharma PLC during Q2, acquiring 15,774 shares of the company's stock.
• Multiple institutional investors have recently adjusted their stakes in Verona Pharma, with overall institutional ownership now at 85.88% of the company's shares.
• Analysts have downgraded Verona Pharma's stock ratings, with a current average rating of "Hold" and a consensus price target of $109.00.

Harbor Capital Advisors Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,774 shares of the company's stock, valued at approximately $1,492,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRNA. NBC Securities Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $34,000. Geneos Wealth Management Inc. raised its position in shares of Verona Pharma PLC American Depositary Share by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock valued at $40,000 after purchasing an additional 193 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share in the fourth quarter valued at approximately $46,000. Acadian Asset Management LLC bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 1st quarter worth $48,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 1st quarter worth $58,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Insider Buying and Selling

In related news, 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 value of $2,745,103.68. Following the sale, the chief executive officer owned 13,376,144 shares of the company's stock, valued at $175,762,532.16. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Austwick sold 11,288 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $13.14, for a total transaction of $148,324.32. Following the transaction, the director owned 12,712 shares of the company's stock, valued at approximately $167,035.68. This represents a 47.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 540,584 shares of company stock worth $7,103,274. Insiders own 4.80% of the company's stock.

Verona Pharma PLC American Depositary Share Stock Performance

Shares of VRNA stock traded up $0.23 during mid-day trading on Monday, reaching $106.25. The stock had a trading volume of 1,244,235 shares, compared to its average volume of 1,350,935. Verona Pharma PLC American Depositary Share has a one year low of $27.54 and a one year high of $106.45. The firm has a market cap of $9.16 billion, a PE ratio of -107.32 and a beta of 0.14. The firm's 50 day simple moving average is $105.60 and its 200 day simple moving average is $85.34. The company has a quick ratio of 10.54, a current ratio of 10.71 and a debt-to-equity ratio of 0.87.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.14. The business had revenue of $103.14 million during the quarter, compared to analyst estimates 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%. On average, analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

Wall Street Analysts Forecast Growth

VRNA has been the topic of several recent analyst reports. 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 target price on the stock. in a report on Wednesday, July 9th. Cowen cut Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a research report on Wednesday, July 9th. BTIG Research lowered 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 lowered 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 report on Thursday, July 10th. Finally, Cantor Fitzgerald increased their price objective on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $109.00.

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.