Martin Edwards Sells 10,808 Shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Stock

Key Points

• Martin Edwards, a director at Verona Pharma PLC, sold 10,808 shares of stock for a total of approximately $142,017, reducing his ownership stake by 6.40%.
• Verona Pharma's stock price experienced a minor decrease of 0.1%, trading at $105.40, with a significant 52-week range between $19.45 and $105.50.
• Analysts have revised their ratings on Verona Pharma, with many adjusting their price targets downward; the current average target is $109.00 with a majority of ratings classified as "Hold."

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) Director Martin Edwards sold 10,808 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $13.14, for a total transaction of $142,017.12. Following the sale, the director owned 157,992 shares of the company's stock, valued at approximately $2,076,014.88. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Verona Pharma PLC American Depositary Share Trading Down 0.1%

VRNA stock traded down $0.07 during trading on Tuesday, reaching $105.40. The company had a trading volume of 861,362 shares, compared to its average volume of 8,219,019. Verona Pharma PLC American Depositary Share has a 52 week low of $19.45 and a 52 week high of $105.50. The company has a market cap of $8.97 billion, a P/E ratio of -52.70 and a beta of 0.12. The business has a 50 day moving average of $94.93 and a 200 day moving average of $74.38. The company has a debt-to-equity ratio of 1.07, a current ratio of 8.86 and a quick ratio of 8.73.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter valued at approximately $225,000. LPL Financial LLC increased its stake in shares of Verona Pharma PLC American Depositary Share by 108.1% during the fourth quarter. LPL Financial LLC now owns 30,033 shares of the company's stock valued at $1,395,000 after purchasing an additional 15,598 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Verona Pharma PLC American Depositary Share by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock valued at $2,914,000 after purchasing an additional 660 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter valued at approximately $1,447,000. Finally, Wells Fargo & Company MN increased its stake in shares of Verona Pharma PLC American Depositary Share by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock valued at $3,117,000 after purchasing an additional 14,362 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRNA has been the subject of a number of analyst reports. Wells Fargo & Company lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and dropped their target price for the stock from $138.00 to $107.00 in a report 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 target price for the company. in a report on Wednesday, July 9th. Cowen lowered shares of Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a report on Wednesday, July 9th. Cantor Fitzgerald increased their target price on shares of Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, TD Cowen lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $109.00.

Verona Pharma PLC American Depositary Share Company Profile

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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