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

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 significant 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 presently 1.2 days. Based on an average daily trading volume, of 3,350,000 shares, the days-to-cover ratio is presently 1.2 days.

Verona Pharma PLC American Depositary Share Stock Performance

Shares of NASDAQ VRNA traded up $0.08 during midday trading on Friday, hitting $105.17. The company's stock had a trading volume of 2,672,132 shares, compared to its average volume of 2,347,038. Verona Pharma PLC American Depositary Share has a 1-year low of $18.51 and a 1-year high of $105.50. The firm's fifty day moving average price is $93.72 and its 200-day moving average price is $73.31. The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86. The firm has a market cap of $8.53 billion, a P/E ratio of -52.59 and a beta of 0.24.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. On average, sell-side analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VRNA. HC Wainwright reissued a "neutral" rating and set a $107.00 price objective (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Monday, July 14th. Cantor Fitzgerald increased their price target on shares of Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Truist Financial downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Piper Sandler downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, BTIG Research lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $109.00.

Insider Activity at Verona Pharma PLC American Depositary Share

In other news, CFO Mark W. Hahn sold 400,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total value of $4,560,000.00. Following the sale, the chief financial officer directly owned 12,278,992 shares in the company, valued at $139,980,508.80. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Fisher sold 80,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $11.53, for a total transaction of $922,400.00. Following the completion of the sale, the general counsel owned 359,999 shares in the company, valued at $4,150,788.47. This represents a 18.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,794,984 shares of company stock valued at $18,524,153. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its stake in Verona Pharma PLC American Depositary Share by 2.2% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,457,850 shares of the company's stock valued at $219,539,000 after purchasing an additional 73,900 shares during the period. Wellington Management Group LLP raised its holdings in shares of Verona Pharma PLC American Depositary Share by 61.0% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Verona Pharma PLC American Depositary Share by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,866,280 shares of the company's stock worth $118,491,000 after purchasing an additional 32,748 shares in the last quarter. RTW Investments LP bought a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth approximately $84,568,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Verona Pharma PLC American Depositary Share by 59.9% in the 4th 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. 85.88% of the stock is owned by institutional investors and hedge funds.

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.

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