Veradermics, Incorporated $MANE Stock Acquired by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Veradermics stake by 31.2% in the third quarter, adding 13,150 shares to hold 55,356 shares valued at about $6.7 million.
• Analyst sentiment is mostly positive: seven analysts rate MANE a Buy, and the consensus is Moderate Buy with a $163.86 price target.
• Veradermics insiders sold a combined 961,000 shares worth about $103.1 million during the quarter.

Alps Advisors Inc. raised its stake in shares of Veradermics, Incorporated (NYSE:MANE - Free Report) by 31.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 55,356 shares of the company's stock after purchasing an additional 13,150 shares during the period. Alps Advisors Inc. owned approximately 0.13% of Veradermics worth $6,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Montanova Capital LLC bought a new position in shares of Veradermics during the 2nd quarter worth approximately $512,533,000. Wellington Management Group LLP bought a new position in shares of Veradermics in the second quarter valued at approximately $8,425,000. Seven Fleet Capital Management LP bought a new stake in Veradermics during the second quarter worth $9,835,000. Profund Advisors LLC lifted its holdings in Veradermics by 399.8% during the third quarter. Profund Advisors LLC now owns 15,843 shares of the company's stock worth $1,921,000 after acquiring an additional 12,673 shares during the period. Finally, Bamco Inc. NY boosted its position in Veradermics by 284.8% in the second quarter. Bamco Inc. NY now owns 229,581 shares of the company's stock worth $28,225,000 after purchasing an additional 169,913 shares during the last quarter.

Wall Street Analysts Forecast Growth

MANE has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on Veradermics from $164.00 to $172.00 and gave the company a "buy" rating in a research note on Monday, October 19th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Veradermics in a research note on Friday, August 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Veradermics in a report on Monday, October 19th. Citigroup restated a "buy" rating on shares of Veradermics in a research report on Tuesday, September 15th. Finally, Wall Street Zen upgraded shares of Veradermics from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $163.86.

Veradermics Trading Down 0.1%

Shares of NYSE MANE opened at $138.63 on Monday. The stock has a fifty day simple moving average of $117.75 and a two-hundred day simple moving average of $97.17. Veradermics, Incorporated has a 1-year low of $32.00 and a 1-year high of $146.57. The firm has a market cap of $5.79 billion and a price-to-earnings ratio of -72.96.

Veradermics (NYSE:MANE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). Analysts forecast that Veradermics, Incorporated will post -2.87 EPS for the current year.

Insider Transactions at Veradermics

In related news, insider Timothy August Durso sold 43,500 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $107.82, for a total value of $4,690,170.00. Following the sale, the insider directly owned 78,142 shares in the company, valued at approximately $8,425,270.44. The trade was a 35.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Childs sold 100,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $107.12, for a total transaction of $10,712,000.00. Following the sale, the director directly owned 194,117 shares in the company, valued at approximately $20,793,813.04. This trade represents a 34.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 961,000 shares of company stock worth $103,120,220.

Veradermics Profile

Want to see what other hedge funds are holding MANE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veradermics, Incorporated (NYSE:MANE - Free Report).

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