Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Director Sells $148,324.32 in Stock

Key Points

• Director Michael Austwick of Verona Pharma PLC sold 11,288 shares of the company's stock for approximately $148,324.32, reducing his position by 47.03%.
• Verona Pharma’s stock is currently experiencing volatility, trading down 0.1% at $105.40 with a market capitalization of $8.97 billion.
• Several analysts have downgraded their ratings on the stock, with Piper Sandler and Canaccord Genuity both changing their ratings from "strong-buy" to "hold."

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) Director Michael Austwick sold 11,288 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $13.14, for a total value of $148,324.32. Following the completion of the sale, the director owned 12,712 shares of the company's stock, valued at approximately $167,035.68. This trade represents a 47.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Verona Pharma PLC American Depositary Share Stock Down 0.1%

VRNA stock traded down $0.07 during mid-day trading on Tuesday, hitting $105.40. The stock had a trading volume of 861,362 shares, compared to its average volume of 8,219,019. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07. Verona Pharma PLC American Depositary Share has a 1-year low of $19.45 and a 1-year high of $105.50. The company has a fifty day moving average of $94.93 and a 200 day moving average of $74.38. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of -52.70 and a beta of 0.12.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRNA. Piper Sandler lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Jefferies Financial Group reaffirmed a "hold" rating and set a $107.00 target price (down from $140.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday, July 9th. Canaccord Genuity Group downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 target price for the company. in a report on Wednesday, July 9th. 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. Finally, Wells Fargo & Company downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and reduced their target price for the company from $138.00 to $107.00 in a report on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VRNA. Raymond James Financial Inc. acquired a new position in Verona Pharma PLC American Depositary Share in the 4th quarter worth about $225,000. LPL Financial LLC increased its position in Verona Pharma PLC American Depositary Share by 108.1% in the 4th quarter. LPL Financial LLC now owns 30,033 shares of the company's stock worth $1,395,000 after purchasing an additional 15,598 shares during the last quarter. Geode Capital Management LLC increased its position in Verona Pharma PLC American Depositary Share by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock worth $2,914,000 after purchasing an additional 660 shares during the last quarter. Trexquant Investment LP acquired a new position in Verona Pharma PLC American Depositary Share in the 4th quarter worth about $1,447,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Verona Pharma PLC American Depositary Share by 27.2% during the 4th quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock valued at $3,117,000 after acquiring an additional 14,362 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma PLC American Depositary Share Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.