Verona Pharma plc (NASDAQ:VRNA) Shares Sold by Octagon Capital Advisors LP

Octagon Capital Advisors LP trimmed its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 68.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 571,264 shares of the company's stock after selling 1,263,936 shares during the quarter. Verona Pharma makes up about 4.4% of Octagon Capital Advisors LP's portfolio, making the stock its 6th biggest position. Octagon Capital Advisors LP owned 0.71% of Verona Pharma worth $26,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRNA. Wellington Management Group LLP raised its holdings in shares of Verona Pharma by 61.0% in the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after buying an additional 1,146,609 shares during the period. Darwin Global Management Ltd. bought a new position in Verona Pharma in the fourth quarter worth approximately $37,637,000. Janus Henderson Group PLC grew its stake in Verona Pharma by 59.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock worth $77,466,000 after purchasing an additional 624,370 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Verona Pharma by 37.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company's stock worth $85,150,000 after purchasing an additional 498,338 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Verona Pharma in the fourth quarter worth approximately $15,716,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO David Zaccardelli sold 90,360 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $811,432.80. Following the transaction, the chief executive officer now directly owns 14,377,176 shares in the company, valued at $129,107,040.48. The trade was a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares in the company, valued at approximately $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. Insiders have sold a total of 365,064 shares of company stock worth $3,208,741 in the last ninety days. 4.80% of the stock is owned by insiders.

Verona Pharma Stock Up 2.6%

NASDAQ VRNA traded up $1.78 during midday trading on Friday, hitting $71.31. 914,905 shares of the company traded hands, compared to its average volume of 1,293,188. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a market cap of $5.78 billion, a PE ratio of -37.14 and a beta of 0.20. The company's 50-day simple moving average is $63.68 and its 200-day simple moving average is $54.39. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $74.18.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. As a group, equities research analysts forecast that Verona Pharma plc will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VRNA shares. Cowen started coverage on Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating on the stock. Wells Fargo & Company increased their price objective on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Roth Capital set a $83.00 price objective on Verona Pharma in a research note on Friday, February 28th. HC Wainwright increased their price objective on Verona Pharma from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald started coverage on Verona Pharma in a research note on Monday, April 21st. They issued an "overweight" rating and a $80.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Verona Pharma presently has a consensus rating of "Buy" and an average price target of $81.50.

About Verona Pharma

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.