Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Short Interest Up 6,534.0% in July

Key Points

• Short interest in Verona Pharma PLC surged by 6,534.0% in July, reaching a total of 4,060,000 shares, indicating increased bearish sentiment among investors.
• The company's stock performance showed a trading price of $105.17, with a market cap of $8.53 billion and a 1-year high of $105.50.
• Several analysts have adjusted their ratings on Verona Pharma, with HC Wainwright setting a price target of $107.00, while others downgraded the stock to a "hold" rating.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 4,060,000 shares, agrowthof6,534.0% from the June 30th total of 61,200 shares. Based on an average daily trading volume, of 3,350,000 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 3,350,000 shares, the days-to-cover ratio is currently 1.2 days.

Insider Buying and Selling at Verona Pharma PLC American Depositary Share

In other news, CEO David Zaccardelli sold 400,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the sale, the chief executive officer owned 13,190,168 shares in the company, valued at approximately $150,367,915.20. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Hahn sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the completion of the transaction, the chief financial officer owned 12,278,992 shares of the company's stock, valued at approximately $139,980,508.80. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,680,000 shares of company stock worth $17,509,994 in the last 90 days. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Several large investors have recently modified their holdings of VRNA. Renaissance Technologies LLC acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the fourth quarter valued at approximately $720,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the first quarter valued at approximately $284,000. Wells Fargo & Company MN lifted its position 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 valued at $3,117,000 after buying an additional 14,362 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 valued at $720,000 after buying an additional 9,021 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 valued at $117,000 after buying an additional 225 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma PLC American Depositary Share Trading Down 0.1%

NASDAQ VRNA traded down $0.13 on Tuesday, reaching $105.34. The company had a trading volume of 492,341 shares, compared to its average volume of 2,331,808. The stock's 50 day moving average is $94.93 and its 200-day moving average is $74.38. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of -52.67 and a beta of 0.12. The company has a quick ratio of 8.73, a current ratio of 8.86 and a debt-to-equity ratio of 1.07. Verona Pharma PLC American Depositary Share has a 52 week low of $19.45 and a 52 week high of $105.50.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Canaccord Genuity Group lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price target on the stock. in a report on Wednesday, July 9th. Piper Sandler cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Wolfe Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Cantor Fitzgerald raised their target price on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, BTIG Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $109.00.

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.