Veradermics (NYSE:MANE) Insider Timothy August Durso Sells 43,500 Shares

Key Points

• Insider Timothy August Durso sold 43,500 Veradermics shares at an average price of $107.82, generating approximately $4.69 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 35.76%.
• Veradermics shares rose 2.9% to $111.33, while the company reported quarterly EPS of negative $0.58, in line with analyst expectations. Analysts expect a full-year loss of approximately $2.74 per share.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $153.00; several firms recently raised or initiated targets ranging from $135 to $182.

Veradermics, Incorporated (NYSE:MANE - Get Free Report) insider Timothy August Durso sold 43,500 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $107.82, for a total transaction of $4,690,170.00. Following the completion of the sale, the insider owned 78,142 shares of the company's stock, valued at approximately $8,425,270.44. The trade was a 35.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veradermics Trading Up 2.9%

Shares of Veradermics stock traded up $3.11 during trading on Tuesday, reaching $111.33. The company's stock had a trading volume of 464,075 shares, compared to its average volume of 798,875. Veradermics, Incorporated has a 52-week low of $32.00 and a 52-week high of $131.24. The company has a market cap of $4.65 billion and a P/E ratio of -58.59. The firm has a 50-day simple moving average of $110.50.

Veradermics (NYSE:MANE - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.58) EPS for the quarter, hitting analysts' consensus estimates of ($0.58). As a group, analysts predict that Veradermics, Incorporated will post -2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MANE shares. Jefferies Financial Group boosted their target price on Veradermics from $138.00 to $182.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Leerink Partners lifted their price target on Veradermics from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Lifesci Capital assumed coverage on Veradermics in a research report on Tuesday, June 16th. They issued an "outperform" rating and a $135.00 price objective for the company. UBS Group set a $170.00 price objective on Veradermics in a research note on Wednesday, July 15th. Finally, B. Riley Financial assumed coverage on shares of Veradermics in a report on Wednesday, July 15th. They issued a "buy" rating and a $170.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Veradermics currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.00.

Institutional Trading of Veradermics

A hedge fund recently raised its position in Veradermics stock. Bamco Inc. NY increased its holdings in Veradermics, Incorporated (NYSE:MANE - Free Report) by 284.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,581 shares of the company's stock after purchasing an additional 169,913 shares during the quarter. Bamco Inc. NY owned approximately 0.55% of Veradermics worth $28,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Veradermics

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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