Insider Selling: Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Director Sells 10,808 Shares of 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 Verona Pharma PLC American Depositary Share stock in a transaction on 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 in the company, valued at $2,076,014.88. This represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Verona Pharma PLC American Depositary Share Price Performance

Verona Pharma PLC American Depositary Share stock traded down $0.12 on Friday, reaching $105.28. The company's stock had a trading volume of 610,545 shares, compared to its average volume of 4,298,595. The company has a debt-to-equity ratio of 0.87, a quick ratio of 8.73 and a current ratio of 10.71. The company has a market cap of $8.96 billion, a price-to-earnings ratio of -106.34 and a beta of 0.12. The business's fifty day moving average price is $97.20 and its 200 day moving average price is $75.53. Verona Pharma PLC American Depositary Share has a twelve month low of $21.56 and a twelve month high of $105.50.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.14. The company had revenue of $103.14 million for the quarter, compared to analyst estimates of $90.41 million. Verona Pharma PLC American Depositary Share had a negative return on equity of 21.12% and a negative net margin of 36.62%. Equities analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $107.00 price target (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, July 9th. Piper Sandler lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Cantor Fitzgerald increased their price objective on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Cowen lowered Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Finally, BTIG Research lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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 hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Verona Pharma PLC American Depositary Share by 13.3% in the 2nd quarter. SG Americas Securities LLC now owns 6,374 shares of the company's stock valued at $603,000 after buying an additional 747 shares during the period. Calamos Advisors LLC acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the 2nd quarter valued at $4,153,000. Geode Capital Management LLC increased its stake in shares of Verona Pharma PLC American Depositary Share by 18.7% in the 2nd quarter. Geode Capital Management LLC now owns 68,430 shares of the company's stock valued at $6,472,000 after buying an additional 10,757 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the 2nd quarter valued at $148,000. Finally, Tyro Capital Management LLC acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the 2nd quarter valued at $20,308,000. 85.88% of the stock is owned by institutional investors and hedge funds.

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.