Short Interest in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Declines By 39.2%

Key Points

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Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 2,470,000 shares, adecreaseof39.2% from the July 15th total of 4,060,000 shares. Currently,3.0% of the company's stock are sold short. Based on an average daily volume of 3,400,000 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 3,400,000 shares, the days-to-cover ratio is presently 0.7 days. Currently,3.0% of the company's stock are sold short.

Insiders Place Their Bets

In related news, Director Kenneth Cunningham sold 10,808 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $142,017.12. Following the transaction, the director owned 79,776 shares in the company, valued at approximately $1,048,256.64. This represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew Fisher sold 9,584 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $125,933.76. Following the completion of the transaction, the general counsel owned 417,903 shares in the company, valued at $5,491,245.42. This represents a 2.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,220,584 shares of company stock valued at $24,613,268 over the last ninety days. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the fourth quarter worth $720,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the first quarter worth $284,000. Wells Fargo & Company MN grew its stake in shares of Verona Pharma PLC American Depositary Share by 27.2% in the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock worth $3,117,000 after acquiring an additional 14,362 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Verona Pharma PLC American Depositary Share by 366.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,486 shares of the company's stock worth $720,000 after purchasing an additional 9,021 shares during the period. Finally, GAMMA Investing LLC lifted its position in Verona Pharma PLC American Depositary Share by 14.0% in the first quarter. GAMMA Investing LLC now owns 1,837 shares of the company's stock worth $117,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on VRNA. Roth Capital downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Cowen downgraded Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a report on Wednesday, July 9th. 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 report on Wednesday, July 9th. HC Wainwright reiterated a "neutral" rating and set a $107.00 price target (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a report on Monday, July 14th. Finally, Wolfe Research downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $109.00.

Verona Pharma PLC American Depositary Share Stock Performance

Shares of Verona Pharma PLC American Depositary Share stock traded up $0.11 during midday trading on Friday, hitting $105.56. The company had a trading volume of 974,700 shares, compared to its average volume of 1,725,017. The business's 50 day simple moving average is $100.91 and its two-hundred day simple moving average is $79.20. The stock has a market cap of $9.13 billion, a PE ratio of -106.63 and a beta of 0.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 10.54. Verona Pharma PLC American Depositary Share has a 1-year low of $24.50 and a 1-year high of $105.85.

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

About Verona Pharma PLC American Depositary Share

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.