HBK Sorce Advisory LLC Trims Stake in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

HBK Sorce Advisory LLC reduced its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,014 shares of the company's stock after selling 3,800 shares during the period. HBK Sorce Advisory LLC's holdings in Verona Pharma PLC American Depositary Share were worth $2,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in Verona Pharma PLC American Depositary Share by 61.0% in the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Verona Pharma PLC American Depositary Share by 37.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company's stock worth $85,150,000 after buying an additional 498,338 shares in the last quarter. RTW Investments LP bought a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth about $84,568,000. Janus Henderson Group PLC raised its position in shares of Verona Pharma PLC American Depositary Share by 59.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock valued at $77,466,000 after buying an additional 624,370 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Verona Pharma PLC American Depositary Share by 3.6% during the 4th quarter. Hood River Capital Management LLC now owns 1,485,256 shares of the company's stock valued at $68,975,000 after buying an additional 51,322 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VRNA shares. Cowen began coverage on Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They set a "buy" rating on the stock. Piper Sandler lifted their target price on Verona Pharma PLC American Depositary Share from $76.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday. Cantor Fitzgerald upped their target price on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. HC Wainwright raised their price target on Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Finally, Wells Fargo & Company lifted their price objective on Verona Pharma PLC American Depositary Share from $107.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verona Pharma PLC American Depositary Share presently has a consensus rating of "Buy" and an average target price of $101.10.

Insider Buying and Selling at Verona Pharma PLC American Depositary Share

In other news, General Counsel Andrew Fisher sold 80,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $11.53, for a total value of $922,400.00. Following the completion of the transaction, the general counsel now directly owns 359,999 shares in the company, valued at $4,150,788.47. This trade represents a 18.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vikas Sinha sold 20,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total transaction of $178,400.00. Following the sale, the director now owns 74,440 shares of the company's stock, valued at approximately $664,004.80. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is owned by insiders.

Verona Pharma PLC American Depositary Share Stock Down 2.2%

NASDAQ:VRNA traded down $2.11 during midday trading on Wednesday, reaching $95.11. 968,274 shares of the stock traded hands, compared to its average volume of 1,316,268. The stock has a market capitalization of $8.10 billion, a PE ratio of -47.56 and a beta of 0.21. Verona Pharma PLC American Depositary Share has a 12-month low of $14.14 and a 12-month high of $100.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86. The business has a 50-day moving average of $76.24 and a two-hundred day moving average of $63.03.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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. On average, equities analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Verona Pharma PLC American Depositary Share Company 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.