Parkman Healthcare Partners LLC Decreases Holdings in Verona Pharma PLC American Depositary Share $VRNA

Key Points

• Parkman Healthcare Partners LLC significantly reduced its stake in Verona Pharma PLC by 63.9%, owning about 260,421 shares after selling 460,236 shares in the first quarter.
• Institutional investors hold 85.88% of Verona Pharma's stock, with several funds either increasing or establishing positions in the first quarter.
• Verona Pharma reported a positive earnings surprise with an EPS of $0.13, surpassing analysts' expectations and generating revenue of $103.14 million for the quarter.

Parkman Healthcare Partners LLC trimmed its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 63.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,421 shares of the company's stock after selling 460,236 shares during the period. Verona Pharma PLC American Depositary Share accounts for about 2.0% of Parkman Healthcare Partners LLC's holdings, making the stock its 17th largest holding. Parkman Healthcare Partners LLC owned about 0.32% of Verona Pharma PLC American Depositary Share worth $16,534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Verona Pharma PLC American Depositary Share by 14.0% during the first quarter. GAMMA Investing LLC now owns 1,837 shares of the company's stock worth $117,000 after purchasing an additional 225 shares in the last quarter. NBC Securities Inc. purchased a new stake in Verona Pharma PLC American Depositary Share in the first quarter valued at approximately $34,000. Advisors Preferred LLC lifted its stake in Verona Pharma PLC American Depositary Share by 65.4% in the first quarter. Advisors Preferred LLC now owns 1,599 shares of the company's stock valued at $94,000 after buying an additional 632 shares during the last quarter. Townsquare Capital LLC lifted its stake in Verona Pharma PLC American Depositary Share by 4.1% in the first quarter. Townsquare Capital LLC now owns 18,688 shares of the company's stock valued at $1,187,000 after buying an additional 730 shares during the last quarter. Finally, Legato Capital Management LLC lifted its stake in Verona Pharma PLC American Depositary Share by 3.5% in the first quarter. Legato Capital Management LLC now owns 25,731 shares of the company's stock valued at $1,634,000 after buying an additional 878 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael Austwick sold 11,288 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $13.14, for a total value of $148,324.32. Following the sale, the director directly owned 12,712 shares in the company, valued at $167,035.68. This represents a 47.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Hahn sold 208,912 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 12,464,968 shares in the company, valued at $163,789,679.52. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,420,584 shares of company stock valued at $17,145,674. Corporate insiders own 4.80% of the company's stock.

Verona Pharma PLC American Depositary Share Price Performance

Shares of NASDAQ:VRNA opened at $106.31 on Friday. The company has a quick ratio of 10.54, a current ratio of 10.71 and a debt-to-equity ratio of 0.87. The company has a market cap of $9.20 billion, a P/E 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 50-day moving average price of $103.31 and a 200 day moving average price of $82.00.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.14. Verona Pharma PLC American Depositary Share had a negative net margin of 36.62% and a negative return on equity of 21.12%. The firm had revenue of $103.14 million during the quarter, compared to the consensus estimate of $90.41 million. Research analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VRNA shares. Cantor Fitzgerald raised their price target 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. 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. HC Wainwright reissued a "neutral" rating and set a $107.00 price target (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a report on Monday, July 14th. Truist Financial lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Finally, Piper Sandler lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Two investment 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 stock has an average rating of "Hold" and an average price target of $109.00.

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.

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