Veradermics (NYSE:MANE) Stock Falls 13.3% - Here's Why

Key Points

• Veradermics shares fell 13.3% on Thursday, closing around $135.69 after trading as low as $133.91; the article did not identify a specific catalyst for the decline.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $174.57 average price target, though ratings range from Buy to Sell.
• The company’s quarterly loss per share was narrower than expected ($0.50 versus a $0.59 estimate), while insiders sold a combined 861,000 shares worth about $92.4 million over three months.

Veradermics, Incorporated (NYSE:MANE - Get Free Report)'s stock price was down 13.3% during trading on Thursday. The stock traded as low as $133.91 and last traded at $135.6910. 553,990 shares were traded during mid-day trading, a decline of 13% from the average session volume of 639,178 shares. The stock had previously closed at $156.56.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MANE shares. Leerink Partners boosted their price objective on Veradermics from $135.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday. Weiss Ratings lowered Veradermics from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday. Cantor Fitzgerald restated an "overweight" rating on shares of Veradermics in a research report on Monday, October 19th. B. Riley Financial lifted their target price on Veradermics from $170.00 to $204.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Citigroup boosted their price target on Veradermics from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.57.

Veradermics Stock Down 11.4%

The stock has a market capitalization of $5.80 billion and a price-to-earnings ratio of -73.42. The business has a 50-day simple moving average of $120.82 and a two-hundred day simple moving average of $98.02.

Veradermics (NYSE:MANE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.09. On average, analysts forecast that Veradermics, Incorporated will post -2.87 EPS for the current year.

Insider Buying and Selling

In other Veradermics news, Director Montanova Capital, Llc sold 750,000 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $107.25, for a total value of $80,437,500.00. Following the completion of the sale, the director directly owned 461,033 shares of the company's stock, valued at approximately $49,445,789.25. This represents a 61.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy August Durso sold 43,500 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider directly owned 78,142 shares of the company's stock, valued at $8,425,270.44. The trade was a 35.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 861,000 shares of company stock valued at $92,408,220 over the last three months.

Institutional Trading of Veradermics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Wealth Asset Management LLC acquired a new stake in Veradermics during the third quarter valued at approximately $249,000. Private Advisor Group LLC increased its holdings in shares of Veradermics by 4.8% in the third quarter. Private Advisor Group LLC now owns 7,712 shares of the company's stock valued at $935,000 after buying an additional 352 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Veradermics by 8.4% in the third quarter. Russell Investments Group Ltd. now owns 1,905 shares of the company's stock valued at $231,000 after buying an additional 147 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Veradermics by 22.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 2,491 shares of the company's stock valued at $302,000 after acquiring an additional 449 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Veradermics by 31.2% during the 3rd quarter. Alps Advisors Inc. now owns 55,356 shares of the company's stock valued at $6,711,000 after acquiring an additional 13,150 shares during the last quarter.

About Veradermics

Veradermics is a clinical-stage biopharmaceutical company focused on developing treatments for hair loss. Its lead candidate, VDPHL01, is an investigational oral formulation of minoxidil being studied for androgenetic alopecia, commonly known as male- or female-pattern hair loss. The company has described the treatment as designed for once-daily use. VDPHL01 remains under clinical investigation and is not an approved treatment. Veradermics is led by founder and Chief Executive Officer Reid Waldman, a physician specializing in dermatology.

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