Verona Pharma plc (NASDAQ:VRNA) CEO Sells $4,560,000.00 in Stock

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) CEO David Zaccardelli sold 400,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were 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 now directly owns 13,190,168 shares in the company, valued at approximately $150,367,915.20. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

David Zaccardelli also recently made the following trade(s):

• On Thursday, May 29th, David Zaccardelli sold 208,696 shares of Verona Pharma stock. The shares were sold at an average price of $9.33, for a total value of $1,947,133.68.
• On Wednesday, May 28th, David Zaccardelli sold 157,704 shares of Verona Pharma stock. The stock was sold at an average price of $9.30, for a total value of $1,466,647.20.
• On Tuesday, May 27th, David Zaccardelli sold 33,600 shares of Verona Pharma stock. The shares were sold at an average price of $9.53, for a total value of $320,208.00.
• On Tuesday, April 29th, David Zaccardelli sold 90,360 shares of Verona Pharma stock. The stock was sold at an average price of $8.98, for a total value of $811,432.80.

Verona Pharma Price Performance

Shares of VRNA traded down $0.30 during mid-day trading on Friday, hitting $92.20. 754,182 shares of the company were exchanged, compared to its average volume of 1,330,842. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of -48.02 and a beta of 0.21. Verona Pharma plc has a 1-year low of $14.14 and a 1-year high of $94.03. The company has a 50 day moving average of $70.32 and a 200-day moving average of $59.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. Analysts expect that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on VRNA. Cowen began coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a "buy" rating for the company. Cantor Fitzgerald raised their price target on shares of Verona Pharma from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Roth Capital set a $83.00 target price on Verona Pharma in a research report on Friday, February 28th. Finally, TD Cowen initiated coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target for the company. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $87.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRNA. Renaissance Technologies LLC acquired a new stake in Verona Pharma during the 4th quarter worth $720,000. Choreo LLC purchased a new position in shares of Verona Pharma in the fourth quarter worth about $230,000. Legato Capital Management LLC boosted its position in Verona Pharma by 132.9% during the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock worth $1,154,000 after acquiring an additional 14,183 shares during the last quarter. Wells Fargo & Company MN boosted its position in Verona Pharma by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock worth $3,117,000 after acquiring an additional 14,362 shares during the last quarter. Finally, Northern Trust Corp purchased a new stake in Verona Pharma during the 4th quarter valued at about $362,000. 85.88% of the stock is owned by institutional investors and hedge funds.

About Verona Pharma

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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