NorthCrest Asset Manangement LLC Sells 4,460 Shares of Verona Pharma PLC American Depositary Share $VRNA

Key Points

• NorthCrest Asset Management LLC significantly reduced its stake in Verona Pharma PLC by 43.3% during the second quarter, bringing its holdings down to 5,850 shares valued at approximately $535,000.
• Despite the decrease from NorthCrest, other hedge funds have increased their positions in Verona Pharma, with Adage Capital Partners GP L.L.C. boosting its shares by 381.9% in the first quarter.
• Verona Pharma reported earnings of $0.13 per share for the last quarter, surpassing analysts’ expectations, and analysts predict a -1.95 earnings per share for the current fiscal year.

NorthCrest Asset Manangement LLC lessened its position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 43.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,850 shares of the company's stock after selling 4,460 shares during the period. NorthCrest Asset Manangement LLC's holdings in Verona Pharma PLC American Depositary Share were worth $535,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in VRNA. Northern Trust Corp bought a new stake in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth $362,000. Ameriprise Financial Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth $5,438,000. Two Sigma Investments LP increased its position in shares of Verona Pharma PLC American Depositary Share by 117.5% during the fourth quarter. Two Sigma Investments LP now owns 152,104 shares of the company's stock worth $7,064,000 after acquiring an additional 82,166 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth $882,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth $72,000. Institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRNA. TD Cowen downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Piper Sandler cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Cantor Fitzgerald increased their target price on shares of 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 restated a "neutral" rating and set a $107.00 target price (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a report on Monday, July 14th. Finally, Wolfe Research cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Verona Pharma PLC American Depositary Share presently has a consensus rating of "Hold" and a consensus target price of $109.00.

Insider Transactions at Verona Pharma PLC American Depositary Share

In other news, CEO David Zaccardelli sold 208,912 shares of the 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 transaction, the chief executive officer directly owned 13,376,144 shares of the company's stock, valued at $175,762,532.16. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mahendra Shah sold 3,608 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $47,409.12. Following the completion of the transaction, the director directly owned 93,472 shares in the company, valued at $1,228,222.08. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 540,584 shares of company stock valued at $7,103,274. 4.80% of the stock is owned by company insiders.

Verona Pharma PLC American Depositary Share Stock Performance

VRNA stock traded up $0.01 during trading hours on Tuesday, reaching $106.26. The stock had a trading volume of 530,346 shares, compared to its average volume of 2,156,742. The stock has a market capitalization of $9.16 billion, a PE ratio of -107.32 and a beta of 0.14. 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 stock has a 50-day simple moving average of $105.60 and a 200 day simple moving average of $85.34. Verona Pharma PLC American Depositary Share has a fifty-two week low of $27.54 and a fifty-two week high of $106.45.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its quarterly 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 firm had revenue of $103.14 million during the quarter, compared to analysts' expectations of $90.41 million. Verona Pharma PLC American Depositary Share had a negative net margin of 36.62% and a negative return on equity of 21.12%. Analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal 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.