Veradermics, Incorporated $MANE Stock: Profund Advisors LLC Grows Stake

Key Points

• Institutional ownership increased: Profund Advisors raised its Veradermics stake by 399.8% to 15,843 shares worth approximately $1.92 million. Several other institutions also initiated or expanded positions.
• Insiders have been selling: The CEO and a director sold a combined 167,500 shares in August, while insiders sold 961,000 shares worth about $103.1 million over the past three months.
• Analysts remain generally optimistic: Veradermics has a “Moderate Buy” consensus rating from MarketBeat, with an average price target of $163.86 versus a recent share price of $139.32, despite the company remaining unprofitable.

Profund Advisors LLC grew its holdings in shares of Veradermics, Incorporated (NYSE:MANE - Free Report) by 399.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,843 shares of the company's stock after purchasing an additional 12,673 shares during the quarter. Profund Advisors LLC's holdings in Veradermics were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Montanova Capital LLC purchased a new position in shares of Veradermics in the second quarter worth approximately $512,533,000. Bamco Inc. NY raised 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 acquiring an additional 169,913 shares during the period. Seven Fleet Capital Management LP bought a new position in Veradermics in the second quarter worth approximately $9,835,000. Wellington Management Group LLP bought a new position in Veradermics in the second quarter worth approximately $8,425,000. Finally, Private Capital Advisors Inc. boosted its stake in shares of Veradermics by 158.4% during the 3rd quarter. Private Capital Advisors Inc. now owns 6,291 shares of the company's stock worth $763,000 after acquiring an additional 3,856 shares during the last quarter.

Insider Activity at Veradermics

In related news, CEO Reid Alexander Waldman sold 67,500 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $107.86, for a total transaction of $7,280,550.00. Following the completion of the transaction, the chief executive officer directly owned 170,824 shares of the company's stock, valued at approximately $18,425,076.64. This trade represents a 28.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John W. Childs sold 100,000 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 194,117 shares of the company's stock, valued at $20,793,813.04. The trade was a 34.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 961,000 shares of company stock worth $103,120,220.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MANE. Jefferies Financial Group boosted their price objective on shares of Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Veradermics in a report on Friday, August 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Veradermics in a research report on Monday, October 19th. B. Riley Financial boosted their price target on Veradermics from $170.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Finally, UBS Group set a $204.00 price target on Veradermics in a research report on Thursday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $163.86.

Veradermics Trading Down 0.3%

NYSE:MANE opened at $139.32 on Monday. Veradermics, Incorporated has a 12-month low of $32.00 and a 12-month high of $146.57. The stock has a 50-day moving average price of $114.61 and a 200 day moving average price of $96.16. The stock has a market capitalization of $5.82 billion and a P/E ratio of -73.33.

Veradermics (NYSE:MANE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, hitting analysts' consensus estimates of ($0.58). On average, research analysts predict that Veradermics, Incorporated will post -2.87 earnings per share for the current fiscal year.

About Veradermics

Veradermics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for dermatologic conditions. The company's research and development activities are directed toward treatments for diseases and disorders affecting the skin, hair and nails, with an emphasis on addressing areas where existing treatment options are limited.

Veradermics' pipeline includes investigational topical therapies designed for conditions such as hair loss and other dermatological disorders.

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