Schonfeld Strategic Advisors LLC Increases Stake in Verona Pharma plc (NASDAQ:VRNA)

Schonfeld Strategic Advisors LLC raised its position in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 288.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,400 shares of the company's stock after purchasing an additional 58,978 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.10% of Verona Pharma worth $3,687,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Verona Pharma by 8.5% in the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock valued at $87,750,000 after buying an additional 148,656 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Verona Pharma by 37.3% during 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 acquiring an additional 498,338 shares during the last quarter. Hood River Capital Management LLC lifted its stake in shares of Verona Pharma by 3.6% in the fourth quarter. Hood River Capital Management LLC now owns 1,485,256 shares of the company's stock worth $68,975,000 after acquiring an additional 51,322 shares during the period. Finally, Darwin Global Management Ltd. acquired a new stake in Verona Pharma during the 4th quarter valued at approximately $37,637,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VRNA shares. Cantor Fitzgerald initiated coverage on Verona Pharma in a report on Monday, April 21st. They issued an "overweight" rating and a $80.00 target price for the company. Truist Financial reiterated a "buy" rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. HC Wainwright raised their target price on Verona Pharma from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Roth Mkm assumed coverage on Verona Pharma in a report on Friday, January 10th. They issued a "buy" rating and a $68.00 target price on the stock. Finally, Roth Capital set a $83.00 price objective on shares of Verona Pharma in a report on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Verona Pharma presently has an average rating of "Buy" and a consensus target price of $81.50.

Verona Pharma Stock Performance

Shares of Verona Pharma stock traded down $0.93 during mid-day trading on Wednesday, hitting $69.14. 1,088,962 shares of the stock were exchanged, compared to its average volume of 1,269,947. The company has a market capitalization of $5.59 billion, a P/E ratio of -36.01 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The company has a 50-day simple moving average of $63.34 and a 200 day simple moving average of $52.53. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $74.18.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. Sell-side analysts anticipate that Verona Pharma plc will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Vikas Sinha sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.92, for a total value of $178,400.00. Following the sale, the director now directly owns 74,440 shares in the company, valued at approximately $664,004.80. The trade was a 21.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. This represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,080 shares of company stock valued at $2,194,582. Company insiders own 4.80% of the company's stock.

Verona Pharma 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.