Bank of America Corp DE trimmed its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 85.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,651 shares of the company's stock after selling 432,398 shares during the quarter. Bank of America Corp DE owned about 0.09% of Verona Pharma worth $3,327,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. EMC Capital Management increased its position in Verona Pharma by 3,400.0% in the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after acquiring an additional 3,400 shares in the last quarter. Wrapmanager Inc. bought a new stake in shares of Verona Pharma during the fourth quarter valued at approximately $207,000. Transcend Capital Advisors LLC bought a new stake in shares of Verona Pharma during the fourth quarter valued at approximately $225,000. Raymond James Financial Inc. acquired a new stake in shares of Verona Pharma in the fourth quarter valued at approximately $225,000. Finally, Choreo LLC bought a new position in Verona Pharma in the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 85.88% of the company's stock.
Verona Pharma Trading Down 1.0%
NASDAQ:VRNA traded down $0.83 during mid-day trading on Wednesday, hitting $83.98. The company had a trading volume of 1,321,048 shares, compared to its average volume of 1,318,921. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma plc has a fifty-two week low of $11.79 and a fifty-two week high of $86.73. The firm has a market cap of $6.81 billion, a P/E ratio of -43.74 and a beta of 0.20. The business's fifty day moving average is $66.82 and its two-hundred day moving average is $57.86.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. As a group, research analysts expect that Verona Pharma plc will post -1.95 earnings per share for the current year.
Insider Buying and Selling at Verona Pharma
In related news, Director Vikas Sinha sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.92, for a total transaction of $178,400.00. Following the completion of the sale, the director now directly owns 74,440 shares of the company's stock, valued at approximately $664,004.80. This represents a 21.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the sale, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,165,064 shares of company stock valued at $10,676,335. Corporate insiders own 4.80% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on VRNA. Cantor Fitzgerald initiated coverage on Verona Pharma in a research report on Monday, April 21st. They issued an "overweight" rating and a $80.00 price objective on the stock. Cowen started coverage on Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating for the company. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. HC Wainwright lifted their price objective on Verona Pharma from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Canaccord Genuity Group boosted their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $82.13.
Check Out Our Latest Stock Analysis on Verona Pharma
About Verona Pharma
(
Free Report)
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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