Insider Selling: Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Director Sells 3,608 Shares of Stock

Key Points

• Director Mahendra Shah of Verona Pharma PLC sold 3,608 shares at an average price of $13.14, resulting in a total transaction value of $47,409.12 and a 3.72% decrease in his holdings.
• Wall Street analysts have recently downgraded Verona Pharma's stock ratings, with Roth Capital and Piper Sandler both moving their ratings from "strong-buy" to "hold."
• The company has a market cap of $8.97 billion and its stock's 12-month price range is between $19.45 and $105.50.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) Director Mahendra Shah sold 3,608 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $47,409.12. Following the sale, the director owned 93,472 shares in the company, valued at $1,228,222.08. This represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Verona Pharma PLC American Depositary Share Price Performance

Shares of Verona Pharma PLC American Depositary Share stock traded down $0.07 on Tuesday, hitting $105.40. 861,362 shares of the company traded hands, compared to its average volume of 8,219,019. The company has a market cap of $8.97 billion, a P/E ratio of -52.70 and a beta of 0.12. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07. Verona Pharma PLC American Depositary Share has a 12-month low of $19.45 and a 12-month high of $105.50. The firm's 50-day simple moving average is $94.93 and its 200 day simple moving average is $74.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRNA. Roth Capital cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Cantor Fitzgerald increased their price target on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Piper Sandler lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Canaccord Genuity Group lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price target on the stock. in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $107.00 price objective (down from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday, July 9th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $109.00.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $720,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Verona Pharma PLC American Depositary Share during the first quarter valued at approximately $284,000. Wells Fargo & Company MN lifted its position in shares of Verona Pharma PLC American Depositary Share by 27.2% during the 4th quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock valued at $3,117,000 after buying an additional 14,362 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Verona Pharma PLC American Depositary Share by 366.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,486 shares of the company's stock worth $720,000 after purchasing an additional 9,021 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Verona Pharma PLC American Depositary Share by 14.0% during the 1st quarter. GAMMA Investing LLC now owns 1,837 shares of the company's stock worth $117,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

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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