Verona Pharma (NASDAQ:VRNA) Shares Down 4.3% on Insider Selling

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) traded down 4.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as $14.87 and last traded at $15.02. 245,237 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 489,801 shares. The stock had previously closed at $15.69.

Specifically, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the sale, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRNA shares. Piper Sandler raised their target price on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 16th. HC Wainwright restated a "buy" rating and issued a $32.00 price objective on shares of Verona Pharma in a report on Monday, March 4th. Finally, Wedbush reiterated an "outperform" rating and set a $33.00 target price on shares of Verona Pharma in a report on Friday, March 1st. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verona Pharma currently has a consensus rating of "Buy" and a consensus price target of $33.60.

Verona Pharma Stock Performance

The company has a market capitalization of $1.21 billion, a P/E ratio of -21.67 and a beta of 0.43. The company's 50 day moving average is $16.16 and its 200-day moving average is $16.20. The company has a current ratio of 33.33, a quick ratio of 33.33 and a debt-to-equity ratio of 0.20.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.07. Equities analysts anticipate that Verona Pharma plc will post -1.32 EPS for the current fiscal year.

Institutional Trading of Verona Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new stake in Verona Pharma during the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC increased its position in shares of Verona Pharma by 950.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company's stock valued at $89,000 after acquiring an additional 4,067 shares in the last quarter. Jump Financial LLC purchased a new position in Verona Pharma in the 4th quarter worth approximately $226,000. Rathbones Group PLC lifted its position in Verona Pharma by 66.7% in the 3rd quarter. Rathbones Group PLC now owns 15,976 shares of the company's stock valued at $260,000 after acquiring an additional 6,392 shares in the last quarter. Finally, Matisse Capital purchased a new stake in Verona Pharma during the 1st quarter valued at $312,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Verona Pharma 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.