Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 366.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,486 shares of the company's stock after buying an additional 9,021 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Verona Pharma PLC American Depositary Share were worth $720,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its position 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 valued at $117,000 after buying an additional 225 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Verona Pharma PLC American Depositary Share by 1.9% during the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company's stock valued at $834,000 after buying an additional 332 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $34,000. Geode Capital Management LLC grew its position in shares of Verona Pharma PLC American Depositary Share by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock valued at $2,914,000 after buying an additional 660 shares during the last quarter. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $46,000. Institutional investors own 85.88% of the company's stock.

Insider Activity at Verona Pharma PLC American Depositary Share

In related news, CEO David Zaccardelli sold 400,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the sale, the chief executive officer directly owned 13,190,168 shares of the company's stock, valued at $150,367,915.20. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen A. Rickard sold 114,984 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $8.82, for a total transaction of $1,014,158.88. Following the sale, the insider directly owned 2,546,472 shares of the company's stock, valued at approximately $22,459,883.04. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,965,800 shares of company stock valued at $20,056,881. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VRNA shares. Jefferies Financial Group restated a "hold" rating and issued a $107.00 target price (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday. Piper Sandler set a $160.00 target price on shares of Verona Pharma PLC American Depositary Share and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Wolfe Research started coverage on shares of Verona Pharma PLC American Depositary Share in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $170.00 target price for the company. Roth Capital restated a "buy" rating and issued a $116.00 target price (up previously from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company upped their target price on shares of Verona Pharma PLC American Depositary Share from $107.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Verona Pharma PLC American Depositary Share has a consensus rating of "Moderate Buy" and a consensus target price of $110.27.

Verona Pharma PLC American Depositary Share Price Performance

Shares of NASDAQ:VRNA traded up $17.91 during trading on Wednesday, reaching $104.77. The company had a trading volume of 65,644,080 shares, compared to its average volume of 1,511,124. The firm's fifty day moving average is $82.60 and its 200 day moving average is $66.84. The firm has a market capitalization of $8.92 billion, a PE ratio of -52.39 and a beta of 0.24. Verona Pharma PLC American Depositary Share has a twelve month low of $16.91 and a twelve month high of $104.93. The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. On average, equities analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

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.