Pathway Capital Management LP Takes $6.24 Million Position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

Pathway Capital Management LP bought a new stake in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 98,329 shares of the company's stock, valued at approximately $6,243,000. Verona Pharma PLC American Depositary Share accounts for approximately 36.0% of Pathway Capital Management LP's portfolio, making the stock its 2nd biggest position. Pathway Capital Management LP owned approximately 0.12% of Verona Pharma PLC American Depositary Share at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Verona Pharma PLC American Depositary Share during the 1st quarter worth $34,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Verona Pharma PLC American Depositary Share during the 4th quarter worth about $46,000. GF Fund Management CO. LTD. acquired a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $72,000. Avanza Fonder AB acquired a new position in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $100,000. Finally, GAMMA Investing LLC grew its holdings in Verona Pharma PLC American Depositary Share by 14.0% in 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. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRNA has been the subject of a number of research reports. Wells Fargo & Company downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $138.00 to $107.00 in a research report on Thursday, July 10th. Truist Financial cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. HC Wainwright reiterated 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. Roth Capital downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, BTIG Research downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.00.

Insider Buying and Selling

In other Verona Pharma PLC American Depositary Share news, CEO David Zaccardelli sold 400,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the transaction, the chief executive officer directly owned 13,190,168 shares in the company, valued at $150,367,915.20. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathleen A. Rickard sold 114,984 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider directly owned 2,546,472 shares in the company, valued at $22,459,883.04. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,965,800 shares of company stock worth $20,056,881 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Verona Pharma PLC American Depositary Share Stock Up 0.0%

Shares of NASDAQ:VRNA traded up $0.01 during trading on Thursday, hitting $104.96. 1,633,347 shares of the company were exchanged, compared to its average volume of 2,332,958. The stock has a market capitalization of $8.93 billion, a P/E ratio of -52.48 and a beta of 0.24. The firm's 50 day moving average price is $89.80 and its 200-day moving average price is $70.88. The company has a debt-to-equity ratio of 1.07, a current ratio of 8.86 and a quick ratio of 8.73. Verona Pharma PLC American Depositary Share has a 12-month low of $18.51 and a 12-month high of $105.30.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. On average, research analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal 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.