Veradermics (NYSE:MANE) CEO Reid Alexander Waldman Sells 67,500 Shares of Stock

Key Points

• CEO Reid Alexander Waldman sold 67,500 shares at an average price of $107.86, generating approximately $7.28 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 28.32%.
• Veradermics shares rose 2.9% to $111.33, while the company reported quarterly EPS of $(0.58), in line with analyst expectations. Analysts expect a full-year loss of $2.74 per share.
• Analyst sentiment remains favorable, with seven Buy ratings and an average price target of $153; separately, Bamco increased its Veradermics stake by 284.8% during the second quarter.

Veradermics, Incorporated (NYSE:MANE - Get Free Report) CEO Reid Alexander Waldman sold 67,500 shares of Veradermics stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $107.86, for a total transaction of $7,280,550.00. Following the sale, the chief executive officer owned 170,824 shares of the company's stock, valued at approximately $18,425,076.64. This represents a 28.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Stock Up 2.9%

Shares of MANE stock traded up $3.11 during trading hours on Tuesday, hitting $111.33. The company had a trading volume of 464,075 shares, compared to its average volume of 798,875. The business's fifty day moving average is $110.50. Veradermics, Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $131.24. The firm has a market capitalization of $4.65 billion and a PE ratio of -58.59.

Veradermics (NYSE:MANE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.58) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.58). Equities research analysts expect that Veradermics, Incorporated will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MANE shares. Jefferies Financial Group boosted their price objective on Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Needham & Company LLC raised their target price on Veradermics from $136.00 to $164.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Wall Street Zen raised Veradermics from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Citigroup boosted their price target on shares of Veradermics from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, UBS Group set a $170.00 price target on shares of Veradermics in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $153.00.

Hedge Funds Weigh In On Veradermics

An institutional investor recently raised its stake in Veradermics stock. Bamco Inc. NY increased its stake in Veradermics, Incorporated (NYSE:MANE - Free Report) by 284.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,581 shares of the company's stock after acquiring an additional 169,913 shares during the period. Bamco Inc. NY owned approximately 0.55% of Veradermics worth $28,225,000 at the end of the most recent reporting period.

Veradermics Company Profile

We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for pattern hair loss, or PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation.

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